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FxWirePro: EUR/USD faces resistance at 61.8% fibo, good to sell on rallies

  • EUR/USD dropped against dollar yesterday after news of terrorist attack in Paris, ahead of Presidential election this Sunday. Euro declined after hitting the high of 1.07720 level. It is currently trading around 1.07053.
     
  • The supply zone is at 1.07775 (61.8% retracement of 1.09058 and 1.05694) and any violation above will take the pair till 1.08288/1.08735. Short tern bearish invalidation only above 1.09058.
     
  • On the lower side, pschycological support and 100 -EMA stands at 1.0700 and any break below targets 1.06455 (61.8% retracement of 1.05694 and 1.0777)/1.06000.
     
  • Markets await first round of French presidential election result for further direction.

    It is good to sell on rallies around 1.0705-1.0710 with SL around 1.07775 for the TP of 1.06450/1.0600/1.05695.
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December 10 23:50 UTC Released

JPBusiness Survey Index*

Actual

9.7 %

Forecast

Previous

9.4 %

December 9 01:30 UTC Released

CNPPI YY*

Actual

5.8 %

Forecast

5.9 %

Previous

6.9 %

December 11 07:00 UTC 7676m

TRCurrent Account Balance*

Actual

Forecast

Previous

-4.527 Bln USD

December 11 09:00 UTC 196196m

ITRetail Sales SA MM

Actual

Forecast

Previous

0.9 %

December 11 09:00 UTC 196196m

ITRetail Sales NSA YY

Actual

Forecast

Previous

3.4 %

December 11 11:30 UTC 346346m

TREndYear CPI Fcst/Cb Svy*

Actual

Forecast

Previous

10.68 %

December 11 15:00 UTC 556556m

USEmployment Trends*

Actual

Forecast

Previous

135.6 tln

December 11 15:00 UTC 556556m

USJOLTS Job Openings*

Actual

Forecast

Previous

6.093 Mln

December 11 21:00 UTC 916916m

KRExport Price Growth YY*

Actual

Forecast

Previous

8 %

December 11 21:00 UTC 916916m

KRImport Price Growth YY*

Actual

Forecast

Previous

6.8 %

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