EUR is on the upside ahead of EU GDP

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By :  ,  Financial Analyst

EUR is on the upside ahead of E.U. GDP

On the economic front, the European Commission will report 3Q GDP later today. It is expected at -4.3% on year and at +12.7% on quarter. September trade balance is also expected at 22.5 billion euros surplus. In the U.S., the University of Michigan will publish its Consumer Sentiment Index for November (82.0 expected).

From a technical point of view, on a daily chart, EUR/USD still stands above its 50-day moving average (in blue). Readers may therefore consider the potential for further advance above 1.1605. The nearest threshold would be set at September top at 1.2015 and a second one would be set at previous overlap at 1.2150.

Source: TradingView, GAIN Capital

Related tags: EUR Forex Forex

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