EURUSD Fundamental Outlook


Monday is expected to be a slow session in the financial markets, with only a few data prints expected. How will EURUSD move? Let’s find out with this 9 October EURUSD Fundamental Outlook from OctaFX.

9 October, OctaFX – Eager investors can expect a highly active week on the economic calendar beginning Tuesday.

Action on Monday begins at 06:00 GMT with the release of German industrial production. Output in Europe’s largest economy is projected to rise 0.7% in August, following a flat reading the month before.

At 08:30 GMT, Sentix will issue its closely-watched investor confidence index. The monthly reading is expected to come in at 28.5, which is slightly higher than the 28.2 in September.

9 October EURUSD Fundamental Outlook

The EUR/USD opened higher on Monday, but continued to trade in a firm downward cycle. The pair was last up 0.1% at 1.1741. However, the gains do little to alleviate concerns over the euro’s projected path.

The common currency has declined in each of the last four weeks, as a combination of political jitters and a resurgent US dollar pressured the bulls. Immediate support is located at 1.1695. On the opposite side of the ledger the first resistance level is seen at 1.1780.

9 October EURUSD Fundamental Outlook

Disclaimer

This article about 9 October EURUSD Fundamental Outlook should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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