EUR/USD is still up ahead of U.S. Retail sales
Christophe Chevalier November 17, 2020 7:10 AM
U.S. October retail sales will be expected at +0.5% on month later today.
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
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