Against the backdrop of the Ecofin meeting, speech by ECB’s M.Draghi before the European Parliament Economy Committee and the meeting between A.Merkel and A.Samaras in Athens will be in the centre of attention and would be the main catalysts for price action.
Euro zone calendar completes with French budget and trade balance figures, Italian GDP and inflation figures in Greece.
As of writing, the cross is up 0.14% at 1.2986 with the next resistance at 1.3035 (hourly high Oct.8) ahead of 1.3072 (high Oct.5) then 1.3120 (high Sep.18) and 1.3135 (Upper Bollinger).
On the flip side, a breakdown of 1.2925 (MA10d) would bring 1.2878 (low Oct.4) then 1.2823 (MA200d) and 1.2804 (low Oct.1).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.