September Services PMIs in Europe
Christophe Chevalier October 5, 2020 6:51 AM
Today, Markit will publish final readings of September Services PMI for the European countries.
Today, Research firm Markit will publish final readings of September Services PMI for the eurozone (47.6 expected), Germany (49.1 expected), France (47.5 expected) and the U.K. (55.1 expected). Also, the European Commission will report the eurozone's August retail sales (+2.5% on month expected).
From a technical point of view, on a daily chart, EUR/USD has broken below a rising trend line and stands below its 50-period moving average (in blue). Readers may therefore consider the potential for further weakness below horizontal resistance at 1.1850. The nearest threshold would be set at September bottom at 1.1610 and a second one would be set at previous overlap at 1.1500.
Source: TradingView, GAIN Capital