EUR/USD fades the spike to 1.0880

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - After a brief adventure to session peaks near 1.0880, EUR/USD has now deflated towards the mid-1.0800s although it keeps the positive tone.

    EUR/USD muted on EMU data

    The pair has remained apathetic after EMU’s GDP figures have matched expectations during the third quarter, expanding 0.3% QoQ and 1.6% over the last twelve months.

    There are no further releases in Euroland today, while JOLTS Job Openings and the IBD/TIPP Economic Optimism will take centre stage in the US calendar in an otherwise uneventful session.

    EUR/USD levels to consider

    At the moment the pair is up 0.01% at 1.0847 with the next hurdle at 1.0983 (high post-ECB Dec.3) ahead of 1.1033 (200-day sma) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). On the other hand, a break below 1.0753 (23.6% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).
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