Friday’s trade saw EUR/DKK within the range of 7.4512-7.4031. The pair closed at 7.4333, losing 0.06% on a daily basis.
Fundamentals
Eurozone
Sentix GmbH will report at 09:30 GMT on investor confidence within the Eurozone in November. According to analysts’ forecasts, investor sentiment probably deteriorated this month, with the corresponding index projected to come in at -15.0 compared to -13.7 in October. If confirmed, this would be the worst level of confidence since May 2013.
The report is based on a survey encompassing about 2 800 investors and analysts. A reading above the zero threshold indicates optimism, and vice versa.
Another report by Italy’s National Institute of Statistics (ISTAT) is anticipated to show that the nation’s industrial output expanded by an annualized 0.4% in September following a 0.7% contraction a month earlier and a 1.8% decline in July.
In monthly terms, Italy’s industrial production probably grew by 0.2% following up on a 0.3% jump in August.
In Greece, industrial production likely contracted at the annual pace of 3.3% in September after it slid 5.7% a month earlier, while consumer prices probably decelerated by an annualized 0.6% in October following a 0.8% deflation a month earlier.
Denmark
Denmark’s trade balance probably narrowed its surplus to DKK 7 billion in September from DKK 7.4 billion a month earlier, Statistics Denmark is expected to report at 8:00 GMT.
Meanwhile, the nation’s industrial production probably contracted by an annualized 0.1% in September following 1.1% growth in August, while consumer prices in October are expected to have risen 0.95% from a year earlier following a 0.5% advance in September.
Pivot levels
According to Binary Tribune’s daily analysis, the central pivot point for the pair is at 7.4292. In case EUR/DKK manages to breach the first resistance level at 7.4553, it may continue up to test 7.4773. In case the second key resistance is broken, the pair could attempt to advance to 7.5034.
If EUR/DKK manages to breach the first key support at 7.4072, it could continue to slide and test 7.3811. With this second key support broken, the movement to the downside may continue to 7.3591.
The mid-pivot levels for Monday are as follows: M1 – 7.3701, M2 – 7.3942, M3 – 7.4182, M4 – 7.4423, M5 – 7.4663, M6 – 7.4904.
In weekly terms, the central pivot point is at 7.4335. The three key resistance levels are as follows: R1 – 7.4640, R2 – 7.4946, R3 – 7.5251. The three key support levels are: S1 – 7.4029, S2 – 7.3724, S3 – 7.3418.