27 October 2017 Euro / Dolar Analysis

Euro / Dollar continues to bear downward pressure. Yesterday, after the ECB meeting, sales on the euro side of parity continue. On a global basis, it would be beneficial to add that the EUR / USD is under pressure on the USD depending on the value gain. On the other hand, the first reading growth data, which reflects the 3Q period in the US, was 3.0% compared to 2.6% market expectation. Personal consumption came in at 2.4%, compared with expectations of 2.1% in the third quarter. After the data, the downward trend continued in the unit. US Michigan consumer confidence index will be released throughout the day.

Technical Analysis: Parallel to our expectations, we broke 200 week moving average and accelerated sales. Perchede continues to be sales-oriented. It seems risky to open new long positions at this point. Even if the pair reacts upwards, the reactions are likely to remain limited. There is a need for built-in operations on the resistance area of ​​1.1680 / 1.1700 for the upward trend in the part again. On the other hand, we continue to follow the 1.15 – 1.1470 support area.


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