EUR/USD TECHNICAL OUTLOOK : 25.01.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
EUR/USD. Pair after opening at 1.0769 last trading day and made a high of 1.0775 and had a side wise trading day now pair trading near 1.0730 mark and could not sustain the higher levels and formed a head and shoulder pattern in the 30minchart and likely to find supply at higher levels so any rise intraday would be ashorting opportunity in the pair.
Fundamental Overview
Euro is trading at 1.0729, depreciating against the US dollar and falling from 1.0775 levels that were seen yesterday. Economic data from the Euro area was largely mixed with Manufacturing PMI beating expectations and services PMI missing the same. Euro weakness was driven by the US dollar strength and we expect the same to continue today. German business expectations and IFO business climate are on tap today but will have minimal impact with the US dollar strength calling the shots in the forex markets.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:30 EUR German Business Expectations (Jan) 105.8 105.6
14:30 EUR German Current Assessment (Jan) 116.9 116.6
14:30 EUR German Ifo Business Climate Index (Jan) 111.3 111
16:05 EUR German 30-Year Bund Auction 0.64%
18:45 EUR German Buba President Weidmann Speaks
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
Euro is trading at 1.0729, depreciating against the US dollar and falling from 1.0775 levels that were seen yesterday. Economic data from the Euro area was largely mixed with Manufacturing PMI beating expectations and services PMI missing the same. Euro weakness was driven by the US dollar strength and we expect the same to continue today. German business expectations and IFO business climate are on tap today but will have minimal impact with the US dollar strength calling the shots in the forex markets.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:30 EUR German Business Expectations (Jan) 105.8 105.6
14:30 EUR German Current Assessment (Jan) 116.9 116.6
14:30 EUR German Ifo Business Climate Index (Jan) 111.3 111
16:05 EUR German 30-Year Bund Auction 0.64%
18:45 EUR German Buba President Weidmann Speaks