forex EUR_USD updates

Stocks tumbled and the world’s most popular currency pair remained relatively stable most of the time. Weak US inflation figures already sent the US Dollar lower and the pair higher. In the euro-zone, Germany’s trade balance and industrial output beat expectations. Italy remained in the headlines but the euro managed to shrug it off more than in previous weeks.

 

Weekly EURUSD Fundamental Forecast 15-Oct to 19-Oct

German import price: Tuesday, 6:00. Prices of imported goods and commodities affect consumer prices. After three months of the hike, in August, the imported prices were disappointed with a decline of 0.2%. There is a small increase of 0.1% on the card for September.

Business balance: Tuesday, 9:00 pm The high volume of Germany’s exports is behind the continent’s surplus. This surplus has been squeezed in recent months, reaching a tough level of 12.8 billion euros in July. Now we will get the data for August. The surplus of 15 billion is estimated.

German ZEW Economic Emotion: Tuesday, 9:00. 275-strong surveys improved in September, but remained in the negative zone, which stood at -10.6. A fresh fall is now predicted: -12.3 points The pan-European measure meets expectations to go from -7.2 to -9.2 points.

Last CPI: Wednesday, 9:00. Early September inflation figures have shown that inflation is fine at 2.1% y / y, but the weight on inflation has fallen to 0.9%. The final figures will confirm the initial data.

Jane’s Wyomman Talk: Speaking at the German central bank’s president, Bundesbank, Berlin on Wednesday. Recently, Weidmann was considered as the leading candidate to replace Mario Druze at the top of the ECB. In any case, he remains an important person in shaping the bank’s policy.

German WPI: Thursday, 6:00 pm Wholesale prices eventually reach consumers. In August they climbed 0.3% and is now expected to grow and grow by 0.4%. Increasing inflation in Germany can lead the ECB to a more contingent monetary policy.

EU summit on Braxtil: Thursday. EU leaders, who are still in the UK, are calling for a planned summit, breaks it is the main issue. By this date, the time limit for reaching the break site deal was marked, but it could be a slip. After the conservative party conference ends, the two sides are reporting progress. The thorny issue is of the Irish border, which deals with the customs system.

Current account: Friday, 8:00. Like the narrow balance of the trade, the euro area enjoys a high surplus, which was EUR 21.3 billion in July. There is a modest surplus of $ 21.4 billion on the card for August.

 

EURUSD Technical Analysis: Previous Support and Resistant Levels

1. There was a low point on 1.1 January 15 and remained relevant. Drugs had a peak of 1.1850 on June 148, before sending down the euro.

2. 1.1815 was the high point in September. 1.1750 did not keep the pair less than four times in July and remained a powerful level.

3. 1.1720 is an experienced line that works in both directions and it captures the pair in mid-September. At the end of August 1.1650, the swing was low and after 1.1615 very closely followed, which played an important role.

4. 1.1570 was a lower point because, at the end of September 1.1530, the pair supported twice in August, making it an important line.

5. In the early fall of October 2018, there were 1.1460 fewer digits. 1.1422 was the low point in the middle of October.

6. 1.1365 temporarily reduced the fall in Euro / US Dollar 1.1300 is a round number which organizes the pair in mid-August and also puts the pair down in June 2017.

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