EUR/USD TECHNICAL OUTLOOK:24.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
EUR/USD. Pair after opening at 1.0623 Made a high of 1.0659 and saw the pair trading in the range of 1.0580-1.0640 and range is broken on the down side now that will act as a strong resistance in the pair and pair is forming lower top and lower bottom formation on daily time frame but 1.05 is a short term target for the pair and its likely to find some support but sell l on rise is advisable.
Fundamental Overview
Euro is trading at 1.0530, breaking below the 1.06 mark as the US dollar rallied in the aftermath of the US data. Policy divergence between the US and EU, and the impending political risk are driving the euro lower. Economic data was in reported better than expected but did little to help the euro. A break of 1.05 could drive the pair much lower and talks of parity with the dollar have already reemerged and could be the likely scenario in a few months time.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
12:30:00 EUR German GDP (YoY) (Q3) 1.70% 1.50%
12:30:00 EUR German GDP (QoQ) (Q3) 0.20% 0.20%
14:30:00 EUR German Business Expectations (Nov) 106 106.1
14:30:00 EUR German Current Assessment (Nov) 115 115
14:30:00 EUR German Ifo Business Climate Index (Nov) 110.5 110.5
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
Euro is trading at 1.0530, breaking below the 1.06 mark as the US dollar rallied in the aftermath of the US data. Policy divergence between the US and EU, and the impending political risk are driving the euro lower. Economic data was in reported better than expected but did little to help the euro. A break of 1.05 could drive the pair much lower and talks of parity with the dollar have already reemerged and could be the likely scenario in a few months time.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
12:30:00 EUR German GDP (YoY) (Q3) 1.70% 1.50%
12:30:00 EUR German GDP (QoQ) (Q3) 0.20% 0.20%
14:30:00 EUR German Business Expectations (Nov) 106 106.1
14:30:00 EUR German Current Assessment (Nov) 115 115
14:30:00 EUR German Ifo Business Climate Index (Nov) 110.5 110.5