EUR/USD TECHNICAL OUTLOOK : 25.08.2016
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EUR/USD. Pair after opening at 1.1303Made a high of 1.1311, and was trading with a negative bias, during the day ,but the pair has violated the recent range and any rise close to its yesterdays high likely to find resistance, while strong resistance near swing high and channel resistance 1.1360 will face strong hurdle, so rise shall be utilized to sell the pair
Fundamental Overview
Euro is trading at 1.1275, remained on a weaker note for the entire trading session and continuing to trend lower. German GDP data reported yesterday, was in line with expectations but remained sold against the dollar on the back of heightened expectations from Yellen signaling tightening tomorrow. German business climate data could add some volatility but expect a weak euro for the day.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
03:30:00 EUR German Business Expectations (Aug) 102.5 102.2
13:30:00 EUR German Current Assessment (Aug) 114.9 114.7
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EUR/USD. Pair after opening at 1.1303Made a high of 1.1311, and was trading with a negative bias, during the day ,but the pair has violated the recent range and any rise close to its yesterdays high likely to find resistance, while strong resistance near swing high and channel resistance 1.1360 will face strong hurdle, so rise shall be utilized to sell the pair
Fundamental Overview
Euro is trading at 1.1275, remained on a weaker note for the entire trading session and continuing to trend lower. German GDP data reported yesterday, was in line with expectations but remained sold against the dollar on the back of heightened expectations from Yellen signaling tightening tomorrow. German business climate data could add some volatility but expect a weak euro for the day.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
03:30:00 EUR German Business Expectations (Aug) 102.5 102.2
13:30:00 EUR German Current Assessment (Aug) 114.9 114.7