22 Dec 2014
EUR/USD shows slight gains ahead of US housing data – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, notes that the EUR/USD pair has edged higher in the Asian and the European session, starting the week with slight gains as it trades in the mid-1.22.
Key Quotes
“EUR/USD has started the week with slight gains, as the pair trades in the mid-1.22 range in Monday’s European session. The euro had awful week, losing about 200 points. EUR/USD is trading at its lowest level since July 2012.”
“On the release front, German Import Prices posted a decline of 0.8%. Later in the day, Eurozone Consumer Confidence will be released. In the US, today’s only event is Existing Homes. The markets are expecting the indicator to soften in November, with an estimate of 5.21 million.”
“Recent releases out of Germany, the Eurozone’s largest economy, have been cause for optimism. The January forecast for German Consumer Climate came in at 9.0 points, a notch above the estimate of 8.9 points.”
“Strong German consumer and business confidence numbers are welcome news, as the Eurozone economy continues to struggle.”
“EUR/USD has edged higher in the Asian and European sessions.”
“1.2143 is a strong support level. 1.2286 is a weak resistance line. 1.2407 is stronger.”
“Current range: 1.2143 to 1.2286”
Key Quotes
“EUR/USD has started the week with slight gains, as the pair trades in the mid-1.22 range in Monday’s European session. The euro had awful week, losing about 200 points. EUR/USD is trading at its lowest level since July 2012.”
“On the release front, German Import Prices posted a decline of 0.8%. Later in the day, Eurozone Consumer Confidence will be released. In the US, today’s only event is Existing Homes. The markets are expecting the indicator to soften in November, with an estimate of 5.21 million.”
“Recent releases out of Germany, the Eurozone’s largest economy, have been cause for optimism. The January forecast for German Consumer Climate came in at 9.0 points, a notch above the estimate of 8.9 points.”
“Strong German consumer and business confidence numbers are welcome news, as the Eurozone economy continues to struggle.”
“EUR/USD has edged higher in the Asian and European sessions.”
“1.2143 is a strong support level. 1.2286 is a weak resistance line. 1.2407 is stronger.”
“Current range: 1.2143 to 1.2286”