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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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October 19 14:00 UTC Released

USPhilly Fed Capex Index

Actual

-0.2 %

Forecast

0.1 %

Previous

0.4 %

October 19 13:00 UTC Released

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Actual

427 Bln USD

Forecast

Previous

423.3 Bln USD

October 20 06:00 UTC 6060m

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0.1 %

Previous

0.2 %

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Forecast

2.9 %

Previous

2.6 %

October 20 08:00 UTC 180180m

EZPhilly Fed New Orders

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Forecast

Previous

32.5 Bln EUR

October 20 08:00 UTC 180180m

BRCurrent Account NSA,EUR*

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Forecast

Previous

32.5 Bln EUR

October 20 08:00 UTC 180180m

BRCurrent Account SA, EUR*

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Forecast

Previous

25.1 Bln EUR

October 20 08:00 UTC 180180m

EZCurrent Account SA, EUR*

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Forecast

Previous

25.1 Bln EUR

October 20 08:30 UTC 210210m

GBPSNB Ex Banks GBP

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Forecast

6.500 Bln GBP

Previous

5.669 Bln GBP

October 20 08:30 UTC 210210m

GBPSNB, MM GBP

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Forecast

Previous

5.093 Bln GBP

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