EUR/USD TECHNICAL OUTLOOK : 7.3.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
Euro is trading at 1.0584, failing to break above the 1.06 mark in yesterday’s session. There was no major economic data release from the EU, keeping the shared currency in a tight range for the entire session. Markets look forward to the ECB policy meeting, which we believe is a non event will have limited impact on the currency after the release. Alain Juppe who had ruled out any possibility of running for President during the current French elections. This news has disappointed investors who had hoped that Mr. Juppe could reduce the risk of Anti EU Leader Le Pen winning who is thirsting for Frexit. This has added some more downward pressure to EURO. We continue to prefer selling the EUR/USD pair from higher levels above the 1.06 mark.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:30 EUR GDP (QoQ) (Q4) 0.40% 0.40%
15:30 EUR GDP (YoY) (Q4) 1.70% 1.70%
12:30 EUR German Factory Orders (MoM) (Jan) -2.50% 5.20%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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EUR/USD. Pair after Opening 1.0601 made a high of 1.0640 and Asian session to Europe session traded with a positive bias and saw a profit booking before the US session at the pair has run-up from 1.05 but the pair as not violate strong supports of 1.0550 with prior day bull candle the pair is expected to consolidate with some positive bias so intraday traders can utilize dips to buy the pair .Fundamental Overview
Euro is trading at 1.0584, failing to break above the 1.06 mark in yesterday’s session. There was no major economic data release from the EU, keeping the shared currency in a tight range for the entire session. Markets look forward to the ECB policy meeting, which we believe is a non event will have limited impact on the currency after the release. Alain Juppe who had ruled out any possibility of running for President during the current French elections. This news has disappointed investors who had hoped that Mr. Juppe could reduce the risk of Anti EU Leader Le Pen winning who is thirsting for Frexit. This has added some more downward pressure to EURO. We continue to prefer selling the EUR/USD pair from higher levels above the 1.06 mark.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
15:30 EUR GDP (QoQ) (Q4) 0.40% 0.40%
15:30 EUR GDP (YoY) (Q4) 1.70% 1.70%
12:30 EUR German Factory Orders (MoM) (Jan) -2.50% 5.20%