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EUR/USD: 1.1000 srtong offers around - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the common currency ends the day higher against its American rival, albeit having held within quite a limited intraday range, and below the 1.0900 figure.

    Key Quotes:

    "The macroeconomic calendar was light amid a Christian holiday, observed by many European countries. At the beginning of the day, the EU released a revision of its Q3 GDP readings, which matched previous estimates and failed to trigger some market's action."

    "In the US, the number of job openings was little changed at 5.4 million on the last business day of October, according to the Bureau of Labor Statistics, while consumer confidence in the country surged in December, as the IBD/TIPP Economic Optimism Index improved 1.7 points, in December, posting a reading of 47.2 vs. 45.5 in November."

    "The EUR/USD pair traded in the green for most of the day, with the EUR still on demand after the latest ECB decision. The short term picture is bullish, despite the lack of momentum, as in the 1 hour chart, the price is above a bullish 20 SMA, while the technical indicators aim higher above their mid-lines. In the 4 hours chart, the technical readings also favor more gains, as the indicators aim higher around their mid-lines whilst the price is extending above a strongly bullish 20 SMA. A steadier advance beyond the 1.0900 level, should anticipate a continued advance towards the 1.1000 figure this Wednesday, where some selling interest is expected to contain further advances."
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