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EUR/USD choppy around 1.0900, focus on China

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The single currency keeps the negative performance on Monday, with EUR/USD so far meandering around 1.0900 the figure.

    EUR/USD lower on risk-appetite, eyes Chinese GDP

    The global markets have reverted the initial negative tone following a pick up in the risk-appetite trends during the European morning. The broader sentiment has so far managed to shrug off the negative developments in crude oil prices after Iran finally saw its sanctions removed over the weekend.

    Absent releases in Euroland and the Martin Luther King holiday in the US markets, the next risk event for the pair will be the Chinese GDP figures during Q4 and December’s Retail Sales, all due tomorrow in the Asian morning. It is worth mentioning that market expectations see the economy to have expanded on an annualized 6.8%.

    EUR/USD levels to watch

    The pair is down 0.20% at 1.0896 and a break below 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the upside, the next hurdle aligns at 1.00987 (high Jan.15) followed by 1.1000 (100-day sma) ahead of 1.1059 (high Dec.15).
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