EURUSD further weakness, will test 1.1490
EURUSD Technical Overview:
Pivot: 1.1565
Day Trading Range: 1.1620 - 1.1490
Key Resistance: 1.1565 - 1.1590 - 1.1622
Key Support: 1.1528 - 1.1505 - 1.1490
Technical Indicators:
MACD: MacD shows heavy volume side in downside privilege.
Moving Avg: SMA100 (1.1589) & SMA200 (1.1576) strong resistance for EURUSD today.
Most Likely Scenario: short positions below 1.1565 with targets at 1.1530 & 1.1500 in extension.
Alternative scenario: above 1.1565 look for further upside with 1.1585 & 1.1615 as targets.
Fundamental:
EUR, stats through the week include September economic sentiment figures for Germany and the Eurozone on Tuesday, July industrial production figures, 2nd quarter wage growth and July trade figures for the Eurozone on Friday, with finalized August inflation numbers also due out through the week. While economic sentiment figures will provide direction early in the week, the ECB monetary policy decision and press conference on Thursday and noise from the Oval Office will be the key drivers in the week ahead.
Thanks
YoCryptoManic
Pivot: 1.1565
Day Trading Range: 1.1620 - 1.1490
Key Resistance: 1.1565 - 1.1590 - 1.1622
Key Support: 1.1528 - 1.1505 - 1.1490
Technical Indicators:
MACD: MacD shows heavy volume side in downside privilege.
Moving Avg: SMA100 (1.1589) & SMA200 (1.1576) strong resistance for EURUSD today.
Most Likely Scenario: short positions below 1.1565 with targets at 1.1530 & 1.1500 in extension.
Alternative scenario: above 1.1565 look for further upside with 1.1585 & 1.1615 as targets.
Fundamental:
EUR, stats through the week include September economic sentiment figures for Germany and the Eurozone on Tuesday, July industrial production figures, 2nd quarter wage growth and July trade figures for the Eurozone on Friday, with finalized August inflation numbers also due out through the week. While economic sentiment figures will provide direction early in the week, the ECB monetary policy decision and press conference on Thursday and noise from the Oval Office will be the key drivers in the week ahead.
Thanks
YoCryptoManic
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