FundamentalOverviewThe USD performance thisweek has been negative despite the decreasing December rate cut odds. We’veseen also other markets behaving in a strange way, so it’s hard to pinpointwhat is really driving the markets at the moment.The focus now is of courseon the Fed and the US data ahead of the December FOMC meeting. The marketpricing is now showing a 50/50 chance of a cut in December, so the data willhave the final say. I don't think the SeptemberNFP expected to be released next week is going to matter much if it's softgiven that it's old data, but a strong report might be taken as meaningfulbecause the market could think that conditions were already getting better inSeptember before the two rate cuts. Therefore, I think theNovember NFP is going to have the final say, which will hopefully get releasedjust before the FOMC meeting in December (we won't get the November CPI intime). On the EUR side, nothinghas changed fundamentally. The ECB decision didn’t offer anything new and kepteverything unchanged. ECB policymakers continue to repeat that the currentpolicy is appropriate and that they won’t respond to small or shot-termdeviations from their 2% target. The recent Eurozone data has been supportingthe central bank stance as PMIs showed a rebound in economic activity and coreinflation remained at 2.4% Y/Y. EURUSD TechnicalAnalysis – Daily TimeframeOn the daily chart, we cansee that EURUSD broke above the major trendline and extended the gains into the1.1650 level as buyers increased the bullish bets. The bullish momentum remainsintact for now as we continue to wait for the key US data. EURUSD TechnicalAnalysis – 4 hour TimeframeOn the 4 hour chart, we cansee that we have an upward trendline defining the bullish momentum. The buyerswill likely lean on the trendline with a defined risk below it to keep pushinginto new highs. The sellers, on the other hand, will want to see the pricebreaking lower to start targeting new lows.EURUSD TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, there’s not much else we can add here as the buyerswill look for a bounce around the trendline, while the sellers will look for abreak. The red lines define average daily range for today. This article was written by Giuseppe Dellamotta at investinglive.com.