Tuesday, October 15, 2019

EUR/USD

Tags

Fundamental Highlights

The euro did a lot of back-and-forth during Monday's session, as traders are trying to figure out what to do next following the US/China trade talks that didn't really change anything so far. Today, however, we can expect direction to come from Brexit as we get closer to Brexit date. It's also a relatively busy day head on the economic calendar with France's inflation figures, Germany's ZEW, and the Eurozone's ZEW, due out later this morning.

Technical Analysis

The Single currency finished almost flat on Monday on low volume, as the pair was unable to decisively move beyond the previous day's range. Prices are trading close to the key support level at 1.1025, and buying might speed up should prices move above the close-by swing high at 1.1063 (R1). However, the short to medium term trends look bearish and therefore a slight pullback this morning might be a highly likely scenario.

Support: 1.1025 / 1.10
Resistance: 1.1064 / 1.11

Chart (H4)
EURUSD