How the German IFO surveys could affect the EURUSD

Discussion in 'Currency Pairs' started by Larry, Oct 25, 2017.

  1. Larry

    Larry Administrator

    Today, the German IFO surveys are set to be released at 8 GMT. The IFO business climate index is expected to be 115.2 in Oct, while the IFO expectation index showing Firm’s projection for the following 6 months is very likely to be at 107.3 in October.

    Haresh Menghani, Analysts at FXStreet noted: “Immediate resistance remains near the 1.1800 handle, above which a bout of short-covering could lift the pair towards a descending trend-line resistance near the 1.1830 region ahead of 50-day SMA supply zone near the 1.1845-50 zone.”

    “Alternatively, a sustained weakness below 1.1725 area might turn the pair vulnerable to break below the 1.1700 handle and head towards testing an important horizontal support near the 1.1670-60 region, also coinciding with 100-day SMA,” Haresh added.

Share This Page