{"id":136813,"date":"2018-11-08T10:30:55","date_gmt":"2018-11-08T15:30:55","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=136813"},"modified":"2018-11-08T05:33:59","modified_gmt":"2018-11-08T10:33:59","slug":"eurusd-analysis-positive-euro-zone-economic-data-support-eurusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/eurusd-analysis-positive-euro-zone-economic-data-support-eurusd\/","title":{"rendered":"EURUSD Analysis: Positive euro-zone economic data support EURUSD"},"content":{"rendered":"
November 8, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Positive euro-zone economic data support EURUSD<\/strong><\/p>\n

Euro-zone producer prices rose more than expected and business activity expansion slowed less than expected. Will the EURUSD <\/a> recovery continue?<\/p><\/blockquote>\n

Recent euro-zone economic data were better than expected: business activity expansion slowed less than expected in October as Markit\u2019s Composite PMI declined to 53.1 from 54.7 when a reading of 52.7 was forecast. And producer prices grew 4.5% in September instead of 4.2% as expected. At the same time headline inflation up-ticked to 2.2% in October from 2.1%, as unemployment remained steady in September at 8.1%. Positive euro-zone data are bullish for EURUSD.<\/p>\n

\"EURUSD<\/p>\n

On the daily timeframe EURUSD: D1 <\/b> has breached above the resistance line but didn\u2019t manage to breach above the 50-day moving average MA(50).<\/p>\n