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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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August 18 14:30 UTC Released

USECRI Weekly Annualized*

Actual

2.5 %

Forecast

Previous

2.7 %

August 18 14:30 UTC Released

USECRI Weekly Index*

Actual

144.5 %

Forecast

Previous

144.3 %

August 20 21:00 UTC 12541254m

KRU Mich Conditions Prelim

Actual

Forecast

Previous

2.8 %

August 20 21:00 UTC 12541254m

KRU Mich Expectations Prelim

Actual

Forecast

Previous

-0.4 %

August 20 21:00 UTC 12541254m

CAPPI Growth YY*

Actual

Forecast

Previous

2.8 %

August 20 23:00 UTC 13741374m

TRReuters Tankan DI

Actual

Forecast

Previous

26 Bln TRY

August 20 23:00 UTC 13741374m

JPReuters Tankan DI

Actual

Forecast

Previous

26 %

August 21 08:30 UTC 19441944m

ID7-Day Reverse Repo*

Actual

Forecast

Previous

6.278 %

August 21 08:30 UTC 19441944m

IDDeposit Facility Rate*

Actual

Forecast

Previous

18.283 %

August 21 12:30 UTC 21842184m

IDLending Facility Rate*

Actual

Forecast

Previous

0.9 %

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