Market Research and Analysis

Daily Market Analysis Report

Mon, 12 Jun 2017 11:04 AM GMT

Author: Senior Forex Analyst, Arslan Ali Butt

  • Daily Trading Range:
  • 1.1300 – 1.1000
  • Support & Resistance Levels:
  • R3: 1.1480
    R2: 1.1365
    R1: 1.1325
    Pivot Point: 1.1250
    S1: 1.1170
    S2: 1.1050
    S3: 1.0990
  • Trading Recommendation:
  • Sell Below 1.1260
    Take Profit:
    1st @ 1.1210
    Stop Loss @ 1.1285

EURUSD

EUR/USD is trading at 1.1216, down +0.0021 and +0.19% on Monday. The pair is higher after the first round of French parliamentary races on Sunday demonstrated that President Emmanuel Macron’s gathering was set to secure a colossal dominant part in France. Today’s ricochet is occurring after the pair exchanged with a drawback inclination a week ago, falling 0.75% for the week general. In any case, misfortunes were generally stifled in the wake of the UK decision, which yielded terrible outcomes for British Prime Minister May and in addition the British Pound.

9 June EUR
Fundamental Overview

Germany exported goods to the value of 101.0 billion euros and imported goods to the value of 83.0 billion euros in April 2017. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports declined by 2.9%, while imports increased by 5.4% in April 2017 year on year. After calendar and seasonal adjustment, exports were up 0.9% and imports 1.2% compared with March 2017. The foreign trade balance showed a surplus of 18.1 billion euros in April 2017. In April 2016, the surplus amounted to 25.3 billion euros.

EUR

  • Italian Industrial Production m/m

USD

  • 10-y Bond Auction  
  • Federal Budget Balance

Technical Overview

The EURUSD is up 0.20% at 1.1217 and a breakout of 1.1240 would target 1.1284 en route to 1.1300. Whereas, on the other hand, the next support is located at 1.1165 followed by 1.1108 and finally 1.1073. However, key resistance is at the 1.1300 level, which has provided a ceiling so far in the month of June.

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Read our General Risk Disclosure.