EUR/USD was under pressure as stock markets tanked and Draghi did not provide a helping hand. What’s next? GDP figures stand out.Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
The crash of stock markets on Monday set the tone for the rest of the week, with the euro rising and falling on the fortunes of Wall Street. ECB President Mario Draghi said that he could not declare victory on inflation, keeping the pressure on the single currency. Services PMIs continue looking good, and so do most other economic indicators. In the US, the good news continued with a strong ISM Non-Manufacturing PMI.
Updates
EUR/USD daily chart with support and resistance lines on it. Click to enlarge:
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