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Forex pairs in this Article » EUR/USD (Barcelona) - The EUR/USD continues pullback after last Thursday’s downside reversal. Traders to eye European PMI numbers and batch of US data points later in the session Monday.

EUR/USD traders to react to various European PMI figures and long list of US data points Monday

Monday, EUR/USD traders will be closely monitoring the following data points out of Europe and the US including:

• German Manufacturing & Services PMIs
• Eurozone Manufacturing, Services and Composite PMIs
• US Non-Farm Productivity data
• US Unit Labor Costs
• US NY Empire State Manufacturing Index
• US Markit Manufacturing PMI
• US Net Long Term TIC Flows
• US Industrial Production & Capacity Utilization

Technical outlook for EURUSD

Technicians say the EUR/USD reversed lower at 1.3791 technical resistance and has been in ST correction mode ever since. More downside to at least the first Fibonacci support at 1.3697 is expected, but the pullback could take the EUR/USD down to 1.3667 (more Fibonacci support). Once the correction runs its course, technicians expect EUR/USD to continue on up to the next resistance at 1.3803 – the 10/25 close.
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