ANALYSIS
NQ100 Finds Support from PPIApr 14
Recovery in EURUSD Was Not Permanent
According to data from the European Statistics Office (Eurostat) today, industrial production in the eurozone increased by 1.5% in August, while it grew by 2.5% on an annual basis. Thus, recession concerns in the region have moderated somewhat. Although the euro recovered somewhat as a first reaction, it seems out of the scenario that the euro will display a permanent attack due to the strong stance of the dollar. In addition, the signals that may appear in the meeting minutes of the Federal Open Market Committee (FOMC) today will be closely followed in terms of parity pricing. When analyzed technically, in EURUSD parity, which is seen to have a minor channel change, the descending steps may continue until the 0.9625 support, if there is a permanent decline below the 0.9660 level. In possible upward attempts, 0.9755 then 0.9800 resistances can be attached to our radar.
