European industrial production in sight

Blue avatar for guest contributors
By :  ,  Financial Analyst

European industrial production in sight

Later this morning, the European Commission will report July industrial production. It will be expected at +4.2% on month, vs +9.1% the previous month. On a yearly basis, it is expected at -8.2%, vs -12.3% in June.

From a technical point of view, on a daily chart, EUR/USD remains on the upside and stands above its 50-period moving average (in blue). Readers may therefore consider the potential for further rise above horizontal support at 1.1700. The nearest threshold would be set at September top at 1.2015 and a second one would be set at horizontal resistance and overlap at 1.2150.

Source: TradingView, GAIN Capital

Related tags: EUR Forex Forex

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar