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Growth figures are up for release from the euro zone economies this week, which could mean a pretty exciting week for the shared currency.

ZEW Economic Sentiment surveys (Nov. 12, 10:00 am GMT)

  • German index to improve from -22.8 to -13.2 in November
  • Reading has turned out stronger than expected in the past two months
  • Euro zone index to climb from -23.5 to -11.5 to show weaker pessimism

Preliminary GDP readings (starting Nov. 14, 7:00 am GMT)

  • Another 0.1% contraction is eyed for Q3 in Germany, possibly reflecting a recession
  • Euro zone GDP to show another 0.2% uptick in Q3, but weak German GDP could hint at a disappointing read

Technical Snapshot

  • Mixed bag for euro pairs in terms of moving averages, with EUR/NZD moving to bullish territory and EUR/CAD turning bearish
EUR Moving Averages from MarketMilk
EUR Moving Averages from MarketMilk
  • Looking at the Williams %R indicator suggests that EUR/CHF, EUR/JPY and EUR/USD are most bullish among the bunch
EUR Williams %R from MarketMilk
EUR Williams %R from MarketMilk
  • Among the franc pairs, only USD/CHF is giving a strong bias based on stochastic, although it’s also worth noting that EUR/CHF is approaching oversold conditions
CHF Stochastic from MarketMilk
CHF Stochastic from MarketMilk

Missed last week’s price action? Read the EUR & CHF price recap for Nov. 4 – 8!