Monday, February 13, 2017

EUR/USD TECHNICAL OUTLOOK : 13.02.2017

EUR/USD TECHNICAL OUTLOOK : 13.02.2017
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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EUR/USD. Pair after opening at 1.0697 mad e high of 1.0710 and was taken the resistance near 1.07 mark and reversed going ahead 1.08 has become a strong resistance and on the down side the pair is not violating the supports of 1.06 but as dollar is showing sign of strength is likely to violate the supports of 1.06 going ahead so utilize the rise to sell the pair.

Fundamental Overview

Euro is trading at 1.0618, continuing to remain weak as uncertainty about the elections in the EU member countries is effecting the shared currency. There is no data to be reported from the EU today but markets would be focus on the election related news. We expect the 1.06 level to be tested in today’s market and the pair could reach 1.0589, the recent low.

Economic Data & News

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Tentative EUR EU Economic Forecasts