EUR/USD Oct. 29 – Under Pressure as Impasse over Greece
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EUR/USD Oct. 29 – Under Pressure as Impasse over Greece

EUR/USD is under pressure after hopes for announcement of a  deal between Greece and the troika  were dashed.  There were reports last week that an agreement had   been hammered out, which would have allowed Greece to receive the next installment of aid. However,  no  agreement has yet been finalized, as  the impasse looks likely to continue into November.  After some disappointing releases out of Germany, the markets will be watching German Preliminary CPI, which will be released throughout the day.  

Here’s an update about technical lines, fundamental indicators and sentiment regarding EUR/USD.

EUR/USD Technical

  • Asian session: Euro/dollar edged downwards. In the European session, the pair continues to test 1.29.
  • Current range: 1.29 to 1.2960.

Further levels in both directions:    

  • Below: 1.29, 1.2814, 1.2750, 1.2670, 1.2624 and 1.2587.
  • Above: 1.2960, 1.30, 1.3060, 1.3105, 1.3170, 1.3290, 1.34, 1.3437 and 1.3480.
  • 1.2960 is providing resistance. 1.30 is the next line on the upside.
  • 1.29 is being tested. 1.2814 is the next support line.

Euro/dollar lower over Greek uncertainty- click on the graph to enlarge.

EUR/USD Fundamentals

  • All Day:  German Preliminary CPI. Exp. 0.0%.
  • 12:30 US Core PCE Price Index. Exp.+0.1%.
  • 12:30 US Personal Spending. Exp.+0.6%.
  • 12:30 US Personal Income. Exp. +0.5%.
For more events and lines, see the Euro to dollar forecast

EUR/USD Sentiment


Kenny Fisher

Kenny Fisher

Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer.