EURUSD Technical Overview:
Pivot: 1.1575
Day Trading Range: 1.1530 - 1.1630
Key Support: 1.1575 - 1.1545 - 1.1530
Key Resistance: 1.1600 - 1.1620 - 1.1635
Technical Indicators:
Moving Avg: SMA100(1.1571) strong support & SMA200 (1.1611) strong resistance for the day.
MACD: MacD still having buying volume & looking toward selling pressure.
Most Likely Scenario: long positions above 1.1575 with targets at 1.1605 & 1.1620 in extension.
Alternative scenario: below 1.1575 look for further downside with 1.1555 & 1.1525 as targets.
Fundamental:
The Euro is trading slightly higher at mid-week, recovering from two-weeks of selling pressure. Traders are paying attention to Brexit negotiations, global trade issues and rising U.S. Treasury yields.
Early Wednesday the Euro is holding steady ahead of reports on Italian Industrial Production, Euro Zone Industrial Production, and the Italian Quarterly Unemployment Rate.
The big event is in the U.S. with the release of the August Producer Price Index (PPI) at 1230 GMT. The PPI is expected to rise 0.2%, up from the previously reported flat performance in July. Core PPI is also expected up inch higher to 0.2%, up from the previously reported 0.1% gain.
Thanks
YoCryptoManic
Pivot: 1.1575
Day Trading Range: 1.1530 - 1.1630
Key Support: 1.1575 - 1.1545 - 1.1530
Key Resistance: 1.1600 - 1.1620 - 1.1635
Technical Indicators:
Moving Avg: SMA100(1.1571) strong support & SMA200 (1.1611) strong resistance for the day.
MACD: MacD still having buying volume & looking toward selling pressure.
Most Likely Scenario: long positions above 1.1575 with targets at 1.1605 & 1.1620 in extension.
Alternative scenario: below 1.1575 look for further downside with 1.1555 & 1.1525 as targets.
Fundamental:
The Euro is trading slightly higher at mid-week, recovering from two-weeks of selling pressure. Traders are paying attention to Brexit negotiations, global trade issues and rising U.S. Treasury yields.
Early Wednesday the Euro is holding steady ahead of reports on Italian Industrial Production, Euro Zone Industrial Production, and the Italian Quarterly Unemployment Rate.
The big event is in the U.S. with the release of the August Producer Price Index (PPI) at 1230 GMT. The PPI is expected to rise 0.2%, up from the previously reported flat performance in July. Core PPI is also expected up inch higher to 0.2%, up from the previously reported 0.1% gain.
Thanks
YoCryptoManic