Daily Forex Signals: Downtrend may continue with EUR/USD pair. EUR/USD only reached new levels because Italy’s budget came forward. There is no sign that issues are being resolved with the EURO. In the starting of Q4, PMI data report is foremost awaited thing for the movement of EUR/USD. 

Let’s take an overview of the Fundamental and Technical Analysis of the EUR/USD pair.

Fundamental Analysis of EUR/USD

1. German retail sale: Monday, 6:00 German retail sale was fall about 0.4% in July and It was increased by 0.4$ in August. All these disappointed consumers in the continent’s biggest economy.

2. Manufacturing PMI: Monday, 7:15 for Spain, 7:45 for Italy, There was only a 50.1 score in Italy and a slight increase of 50.3 on the card. For Germany, the initial measure for September was at 52.5, 53.7 for Germany and 53.3 for the full euro area. The initial number will be confirmed.

3. Unemployment rate: Monday, 9:00. Unemployment rates are continuously rejected. After 8.1% in July, there is another slide of 8.1% on the card for August.

4. Spanish unemployment Change: Tuesday, 7:00. Spain,  Know as the fourth largest economy, Spain is still suffering from the high unemployment rate. It was rise to 47 in August and the latest figure for September is estimated to increase to 28.2.

5. PPI: Tuesday, 9:00. In July, the manufacturer’s price index increased by a healthy 0.4%. Estimated growth of 0.2% for August. Prices on the doors of the factory eventually reach consumers.

6. Services PMI: Wednesday: 7:15 for Spain, Early reading of PMI for France’s services for September was 54.5, Germany for 56.5 and Euro-zone for 54.7 points. These numbers are expected to be confirmed.

7. Retail Sales: Wednesday, 9: 00. While the main countries have already published their consumption data, the total number for the 19-country currency block can be astonishing. A 0.2% increase in August has been predicted to follow a decline of 0.2% in July.

8. German Factory Order: Friday, 6:00. Order in factories fell 0.9% in July, lower than expectations. An increase of 0.7% is now estimated on this volatile measure.


Technical Chart of EUR/USD 

eurusd 02-oct to 05-oct


Technical Analysis of EUR/USD

1. The lowest point was 1915 that was defined in January. 1.1850 was the highest reached in June, until Draghi announcement sent  EUR down

2. 1.1815 was the high point in September. 1.1750 held the pair no less than four times in July and remains a powerful level.

3. 1.1720 is a veteran line that worked in both directions and it capped the pair in mid-September. 1.1650 was a swing low in late August and is very closely followed by 1.1615 which played a pivotal role.

4. 1.1.1570 was the low point as September came to an end 1.1530 supported the pair twice in August, making it an important line. 1.1435 held the EUR/USD down when it was trading around the yearly lows.

5. 1.1300 is a round number that held the pair in mid-August and also held the pair down in June 2017.






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