Thursday, February 16, 2017

EUR/USD TECHNICAL OUTLOOK : 17.02.2017

EUR/USD TECHNICAL OUTLOOK : 17.02.2017
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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EUR/USD. Pair after opening at 1.0592 made low of .10582 and was trading with some positive bias the pair has taken a support near 1.05 and reversed with a bullish candle and for the near term the likely range for the pair is 1.05-1.08 and is expected to be volatile in this said range but intraday day can utilize the dips to enter the pair.

Fundamental Overview

Euro is trading at 1.0675, continuing with the bounce from near the 1.0530 level that was seen this week. There was no data from the EU yesterday expect for the monetary policy minutes and with limited data to be reported today, we expect this bounce to continue with a possibility to test 1.07 but any higher levels should be faded in the near term.