Tuesday, October 27, 2015

EUR/USD: sticky at the pivot on major week

FXStreet (Guatemala) - EUR/USD is stuck to the pivot with a high of 1.1068 and a low of 1.0998.

EUR/USD has been in a dead spot for the opening of the week while the causes and effects of China cuts and ECB dovishness plays havoc on the euro crosses on a key week for the US dollar and a number of EZ data events. The key levels to the upside come around the 200 DMA at 1.1118 mark the cluster of MA's on the daily sticks, so any positive surprises out of EZ data, bulls will be looking to target there. We also have the FOMC, as well as the German and EZ jobs and EZ CPI's.

EUR/USD levels

Technically, the pivot at 1.1055 is sticky and the 55 SMA at 1.1088 comes immediate resistance, while a strong break to the downside looks for S1 at 1.0935 ahead of S3 at 1.0881. Then, the 30 year channel at 1.0560 and 1.0457 would be exposed.
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