The Euro was steady at $1.5633 rebounding from an earlier low of $1.5593.U.S. economic data last week showing resilience in some sectors such as the labour market contrasted with a sharp drop in business sentiment in Germany. That news, combined with ECB policymakers' comments highlighting worries about excessive volatility in the currency market had dampened expectations for a rate hike in the Euro zone and hurt the Euro.
Tech view for Euro &GBP
EURO is expected to trade on mixed note for the day. currency lends its support at 1.5550 and break of it would test 1.5508 levels. good resistance is seen at1.5730 levels. the trading range is expected between 1.5580-1.5710 levels. the momentum is trending towards down and stochastic also in oversold region indicates the currency to be on downside. yet a confirmation of downtrend is seen when currency breaks 1.5560 levels.
POUND chart pattern predicts the currency to be downside . currency lends its support at 1.9750 levels and holds resistance at 1.9920 levels. the trading range is expected between 1.9760-1.9880 levels.the momentum is trending down indicating the currency to be on bear note. fast stochastic shows the sterling to be on overbought levels giving clues for the currency to be on downside for the day.
EURO is expected to trade on mixed note for the day. currency lends its support at 1.5550 and break of it would test 1.5508 levels. good resistance is seen at1.5730 levels. the trading range is expected between 1.5580-1.5710 levels. the momentum is trending towards down and stochastic also in oversold region indicates the currency to be on downside. yet a confirmation of downtrend is seen when currency breaks 1.5560 levels.
POUND chart pattern predicts the currency to be downside . currency lends its support at 1.9750 levels and holds resistance at 1.9920 levels. the trading range is expected between 1.9760-1.9880 levels.the momentum is trending down indicating the currency to be on bear note. fast stochastic shows the sterling to be on overbought levels giving clues for the currency to be on downside for the day.
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