EUR/USD TECHNICAL OUTLOOK : 23.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
Euro is trading at 1.0550, bouncing back from the lows below 1.05 that were seen yesterday. Key reason for the bounce was the political news that French centrist Bayrou will move out of the presidential race and back independent candidate Macron. This move could reduce the chances of Le Pen winning and this news has helped euro rally. German GDP is on tap today and we believe that the 1.05 level should hold on for the day.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
12:30 EUR German GDP (YoY) (Q4) 1.60% 1.20%
12:30 EUR German GDP (QoQ) (Q4) 0.40% 0.40%
12:30 EUR GfK German Consumer Climate (Mar) 10.1 10.2
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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EUR/USD. Pair after opening at 1.0534 made intraday low below the supports of 1.05 and bounced with some form of bullish wick and likely to remain positive but 1.06 will act as a strong resistance and the pair can will find strong supply coming in the pair if pair can absorb the supply can bounce further so likely to be volatile with some supply pressure at higher levels ,meanwhile 1.05 now becomes a strong support and for the day likely to hold.Fundamental Overview
Euro is trading at 1.0550, bouncing back from the lows below 1.05 that were seen yesterday. Key reason for the bounce was the political news that French centrist Bayrou will move out of the presidential race and back independent candidate Macron. This move could reduce the chances of Le Pen winning and this news has helped euro rally. German GDP is on tap today and we believe that the 1.05 level should hold on for the day.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
12:30 EUR German GDP (YoY) (Q4) 1.60% 1.20%
12:30 EUR German GDP (QoQ) (Q4) 0.40% 0.40%
12:30 EUR GfK German Consumer Climate (Mar) 10.1 10.2
