By JustMarkets
The EUR/USD currency pair
- Prev Open: 1.0592
- Prev Close: 1.0615
- % chg. in the last day: +0.22
This week is the final trading week of the year. The liquidity level will be lower this year due to many investors closing down their books and many traders going on vacation. The markets could move quickly without any new information. The dollar fell against most currencies in trading Friday as recent data signaled that the US Personal Consumption Index (PCE) is slowing, reinforcing expectations for a smaller interest rate hike by the Federal Reserve and improving investors’ appetite for risk. The Fed is expected to raise interest rates by only 25 basis points at its next meeting.
- Support levels: 1.0549, 1.0483, 1.0361, 1.0332, 1.0284, 1.0193
- Resistance levels at 1.0667 and 1.0695
On an hourly basis, the EUR/USD currency pairing is trending bullish. The price is moving in a price range. The price is now forming a wide price range. The MACD indicator has turned positive and buyers are once again dominant within the day. In such market conditions, buy orders should be considered not only from intraday support levels, but also with…
