Weekly Technical Analysis For April 13th to 17th, 2020
Looking ahead, US figures will be closely watched on Wednesday. Economists predict that retail sales drop to -7.0% from -0.5% last month. On the other hand, , which exclude autos, are expected to have dropped by -3.0%.
will be announced Thursday and it is a critical indicator of economic strength in the US. The market expects housing starts to ease to 1.300 mln from 1.452 mln.
as another key indicator of demand in the housing market measure the change in the number of new building permits issued by the government. It is expected to come out at 1.307 mln in March.
In addition to that, watch out for the in the Eurozone. On the basis, the Eurozone CPI is expected to remain stable at 0.7%. A lower than expected reading will be negative for the single currency.
EUR/USD: The pair jumped up above the 1.0806 main support level and then closed last week above 1.0930. As long as the pair stays above 1.0930 on a four hourly basis,…