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technical analysis

Risk sentiment in the market was somewhat quiet amid a lack of data.

Minor reports on the US-China trade deal did not bring much cheer. Equities were up only slightly, while safe-haven assets were on the back foot.

The Brexit saga continues after the UK parliament rejected the Brexit deal over the weekend. However, the market reaction was soft.

German Producer Prices Inch Slightly Higher

The monthly producer prices index data for Germany saw a modest increase. Headline PPI rose 0.1% on the month in September.

The official data from Destatis beat the forecasts of a 0.1% decline. September’s PPI marks a reversal from a month ago. It was also the first increase after PPI fell for two consecutive months.

EURUSD Slips Off Resistance

EURUSD eased back after briefly testing the resistance area of 1.1177. But we expect to see a firmer retest of this level in the near term.

The bias to the downside will increase if price tests the resistance level. To the downside, the correction points to 1.1...

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