Fundamentals:
* US treasury yields are flatlined despite strong hawkish comments from Powell.
** Big disappointment from Germany, as economic growth contracted for the first time since 2015.
***US October inflation increased by the most in nine months, with the core CPI up by 0.3% MoM and by 2.5% YoY
**** Italy stuck to its 2019 budget with a 2.4% deficit target and a growth forecast of 1.5%
***** Brexit hopes help Euro's recovery.
US Retail Sales is in focus.
Technically:
EURUSD is under a strong bearish pressure. It is trading above EMA 50 and headed north.
1.13520 is the key resistance and break above will lead the price 1.14000 – 1.14300 region.
The short term recovery is like to end at 1.14000 – 1.14300 region. – Ichimoku Cloud & Trendline resistance.
* US treasury yields are flatlined despite strong hawkish comments from Powell.
** Big disappointment from Germany, as economic growth contracted for the first time since 2015.
***US October inflation increased by the most in nine months, with the core CPI up by 0.3% MoM and by 2.5% YoY
**** Italy stuck to its 2019 budget with a 2.4% deficit target and a growth forecast of 1.5%
***** Brexit hopes help Euro's recovery.
US Retail Sales is in focus.
Technically:
EURUSD is under a strong bearish pressure. It is trading above EMA 50 and headed north.
1.13520 is the key resistance and break above will lead the price 1.14000 – 1.14300 region.
The short term recovery is like to end at 1.14000 – 1.14300 region. – Ichimoku Cloud & Trendline resistance.
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