On Monday, Euro continued its upward trend and is currently at 1.1660. The weaker U.S. dollar index under the pressure of weak economic data is the main reason for supporting the Euro's rise. The economic data of the Euro zone is also an important factor supporting the Euro's rise. The October Markit Manufacturing PMI in the Eurozone was 58.5, better than the expected 57.1. Important news will be released on the ECB Council this week.
From a technical perspective, Euro’s weekly candle closed bullish. There are signs of stabilization at the bottom, and the indicators are still weak. Daily graph shows that Euro stabilize at 1.1600, which is an affirmation of the bulls. The moving average form Golden Cross at the bottom. H4 graph shows that BOLL narrowed, and the indicator gradually turned bullish. Overall, prioritise operation within the fluctuation zone. Consider the support zone and resistance zone, if EURUSD manage to break 1.1670, then there is an opportunity, the deciding point whether to buy or sell is near, it is an opportunity to break above 1.1620.
Resistance：1.1670-1.1700-1.1750
Support：1.1620-1.1600-1.1570
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