The EUR/USD fell slightly at the very beginning of the week, maintaining a general bearish bias, despite the increase. the slightly positive assessment of last week. Remember that the currency pair had held up well; à a series of American statistics better than expected and to be expected. a relatively hawkish speech from Fed boss Jerome Powell.
However, the conflict in the Middle East clearly limits investors' appetite for risk, which further highlights the value status Dollar refuge.
Regarding the important events for the Euro Dollar this week, we will first note that this Monday will not be the occasion of any influential indicator. The economic calendar will come alive again. starting tomorrow, with the preliminary European PMIs.
>> Find all the important statistics for EUR/USD and their results in real time in the calendar economical Investing.com!
Wednesday will then be marked by the IFO German business climate index, as well as by US new home sales. But it is the days of Thursday and Friday which will welcome the most important publications of the week, with the preliminary US GDP of the third quarter on Thursday, and the Core PCE price index, reputedly to be the Fed's preferred inflation measure on Friday.
Technical thresholds at monitor on EUR/USD
From a graphical point of view, we note that the trend of the EUR/USD remains bearish, although the currency pair has challenged a bearish trend line visible since the summer of 2015. last.
In the immediate future, the thresholds of 1.06 and 1.0640 are the first resistances to take into account. Higher, 1.07 and 1.0770 will be the next obstacles, before a more important area to reach. 1.08-1.0825, where Currently located are the 100-day and 200-day moving averages, as well as the 200-week MA. If EUR/USD continues to fall, the 1.05 area, and this year's low at 1.0450 will be the first potential supports.
The EUR/USD threatens to accentuate its fall at the start of a dense, US GDP in sight