Supports at:
1.08250 1.08000 1.07750 1.07350
Resistances at:
1.08500 1.08750 1.08900
Daily chart
Important Data
Wednesday :
USD Core Cpi m/m
USD Cpi m/m
USD Cpi y/y
USD FOMC Meeting Minutes
Thursday :
EUR Interest rates decision
EUR Monetary Policy Statement
USD Core PPI m/m
USD PPI m/m
USD Unemployment Claims
Technical Outlook
After Friday’s sharp drop , violating the important support at 1.08000 ( Low at 1.07916 ) pair came back in full force, closing the week at 1.08480, just short of Exponential moving average 50 .
Current pattern suggests Break of 1.08500 (EMA 50 ) and Attack at Downtrend channel line at 1.08900.
Lack of data might produce a lack of liquidity, but coming days should be behind the real moves .
Taking into account the market sentiment towards the above mentioned data, and especially ECB Rate decision , we should expect this technical outlook to coincide with the fundamental one ( or better to say the expectations, no matter how wrong it might turn out at the end )
Weekly chart is in line with the Daily view as well.
Only clear break of 1.08000 would change this picture.
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