The EUR/USD found support following a stronger than expected German Ifo figure and generated an inside day with a higher low and a lower high following a
The EUR/USD found support following a stronger than expected German Ifo figure and generated an inside day with a higher low and a lower high following a drop of more than 3-big figures over the last 2-days. Resistance is seen near the 200-day moving average at 1.1115.
The German October Ifo index dropped to 108.2 from 108.5 in the previous month. The reading was better than consensus forecast and was lifted entirely by a marked improvement in the future expectations index, which will likely have also been impacted by hopes of ongoing or even added monetary stimulus across the world. The diffusion index remains firmly in positive territory, indicating that optimists continue to outnumber pessimists.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
