Tag Archives: EUR/CHF

Daily Technical Report

EUR/USD is challenging the strong supportarea between 1.2755 and 1.2662.

A light data calendar today. The only notable release is the second revision of US Q3GDP.

EUR/USD continues to decline and is nowtesting the strong support area between 1.2755and 1.2662.

In the euro area the main event today will be the release of money supply M3and credit data for August.

EUR/USD made a big daily upper shadowyesterday, indicating persistent selling pressures.

EUR/USD remains thus far unable to holdabove its previous lows, indicating persistentselling pressures.

Focus will be on flash estimates for PMIs. In the euro area we expect bothmanufacturing PMI and service PMI to

EUR/USD: Momentum strongly pro-decline. Euro clearly oversold. From technical point of view, consolidation should continue for some time.

EUR/USD remains capped by the short-termdeclining trendline and the hourly resistance at1.2988 (05/09/2014 high).

In the euro area, ECB president Mario Draghi will testify before the EuropeanParliament’s Economic and Monetary Committee at 15:00 CET.

Sterling traders adjust strategy after “no” victory The Scotland says “no” to independence, hence the 307-year-old union remains intact.

EUR/USD remains capped by the short-termdeclining trendline and the hourly resistance at1.2988 (05/09/2014 high).