EURUSD is still up ahead of US Retail sales

Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

EUR/USD is still up ahead of U.S. Retail sales

Later today on the economic front, the U.S. Commerce Department will report October retail sales, expected at +0.5% on month, and September business inventories (+0.6% on month expected). The Federal Reserve will release October industrial production, expected at +1.0% on month.

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: Forex EUR 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