EUR/USD TECHNICAL OUTLOOK:10/24/2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
EUR/USD. Pair after opening at 1.0926Made a high of 1.0930 and traded with some negative bias the pair had strong fall, after the ECB interest rate decision, and violated the supports of 1.0950 levels signifies weakness, before that pair was trading in the range of 1.1250.1.1100 so supports will act as resistance ,intraday rise shall be utilizes to sell the pair.
Fundamental Overview
Euro is trading at 1.0864, continued to trade on a weaker note against the US dollar as policy divergence between the US and EU remained the key driver for markets. With the ECB wiping off speculation about a cut to the current stimulus program, investors continued to pile on short positions. Manufacturing data from the EU could lend some support to the pair today but the overall outlook remains weak.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
12:30:00 EUR French Manufacturing PMI (Oct) 50 49.7
12:30:00 EUR French Services PMI (Oct) 53 53.3
13:00:00 EUR German Manufacturing PMI (Oct) 54.3 54.3
13:00:00 EUR German Services PMI (Oct) 51.5 50.9
13:30:00 EUR Manufacturing PMI (Oct) 52.6 52.6
13:30:00 EUR Markit Composite PMI (Oct) 52.8 52.6
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
Euro is trading at 1.0864, continued to trade on a weaker note against the US dollar as policy divergence between the US and EU remained the key driver for markets. With the ECB wiping off speculation about a cut to the current stimulus program, investors continued to pile on short positions. Manufacturing data from the EU could lend some support to the pair today but the overall outlook remains weak.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
12:30:00 EUR French Manufacturing PMI (Oct) 50 49.7
12:30:00 EUR French Services PMI (Oct) 53 53.3
13:00:00 EUR German Manufacturing PMI (Oct) 54.3 54.3
13:00:00 EUR German Services PMI (Oct) 51.5 50.9
13:30:00 EUR Manufacturing PMI (Oct) 52.6 52.6
13:30:00 EUR Markit Composite PMI (Oct) 52.8 52.6