EURUSD: channel dominates chartsEuro/US DollarFX:EURUSDXBTFXThe first macro data for the U.S. economy has been posted during the previous week, after the historically longest Government shutdown was over. The Non-farm payrolls in September were 119K, while the market was expecting to see only 50K. The Unemployment rate in September was 4,4%,higher from the last posted figure of 4,3%. The average hourly earnings in September were higher by 0,2% m/m and 3,8% y/y. Figures were in line with market expectations. The existing home sales in October were higher by 1,2% for the month. Friday brought the University of Michigan Consumer Sentiment final for November, with 51,0 and five-year inflation expectations of 3,4%, which was a drop from 3,9% posted previously. The current account in the Euro Zone reached Euro 38,1B in September, which was a bit higher from forecasted Euro 34B. The final inflation rate in the Euro Zone in October was standing at 0,2% m/m and 2,1% y/y. Core inflation was standing at 2,4% y/y. The Producers Price Index in Germany in October was by 0,1% higher for the month and stayed in a negative territory of -1,8% for the year. The HCOB Manufacturing PMI flash for November in Germany reached 48,4 a bit lower from expected 49,8. The same indicator for the Euro Zone was at the level of 49,7 in November, again slightly lower from anticipated 50,2. Since September this year the eurusd currency pair entered into a down-trend channel which is still strongly holding. Eventually, a break of the channel will occur in the coming period, but the timing of it is unknown. For the previous week, the market was favoring the US Dollar, where the currency pair went from 1,1625 down to 1,1490. The week was closed at 1,1513. The RSI currently stands at the level of 38, and is eyeing the oversold market side. Both MA50 and MA200 are moving as parallel lines with a down-trend. Potential cross is not expected in the near-term period. The formed channel currently dominates charts for eurusd. If it continues to hold, then the next supporting level stands somewhere around the 1,1420. On the other hand, if we take into account that there are six consecutive red candles on a daily chart, it increases the probability of a short term smaller reversal. There is some probability that the market will try to test the 1,16 resistance level for one more time, before it reverts back toward the 1,1420. Important news to watch during the week ahead are: EUR: Ifo Business Climate in Germany in November, GfK Consumer Confidence in Germany in December, Retail Sales in Germany in October, Unemployment rate in Germany in November, Inflation rate in Germany preliminary for November, USD: Producers Price Index in September, Retail Sales in September, Durable goods Orders in September, PCE Price Index in October