Thursday, January 5, 2017

EUR/USD TECHNICAL OUTLOOK : 06.01.2017

EUR/USD TECHNICAL OUTLOOK : 06.01.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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EUR/USD. Pair after opening at 1.0489 Made a high of 1.0615saw strong short covering in the pair and now trading above the physiological mark of 1.05 levels now 1.05 is the levels to watch as its close the levels so 1.0350 to 1.0650 would be the range for the month but the pair remains week as forming lower top and bottom on daily scale but intraday can buy the pair.

Fundamental Overview

EURO is trading at 1.058. Retail PMI data reported yesterday is at 50.4 up by 3.7% compared to the previous data which was at 48.6. PPI (MoM) data for the month of November is 0.30% against the estimates of 0.10% and PPI (YoY) is at 0.10% over the estimates of -0.10%.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
12:30 EUR German Factory Orders (MoM) (Nov) -2.30% 4.90%
12:30 EUR German Retail Sales (MoM) (Nov) -0.60% 2.40%
15:30 EUR Retail Sales (MoM) (Nov) -0.40% 1.10%