30 Jan 2015
EUR/USD extends to 1.1360
FXStreet (Edinburgh) - The shared currency keeps the gains vs. the US dollar on Friday, pushing EUR/USD back to the 1.1355/60 band.
EUR/USD now looks to US GDP
The preliminary inflation figures in the euro bloc for January have shown an extension of what it seems to be an entrenched deflationary scenario in the region. The results were priced in however, as reflected by the subsequent improvement (indifference?) in the pair in the wake of the release. Previously, German retail sales posted mixed prints although markets largely ignored them.
Next on tap will be the US releases, with the salient point being the Q4 GDP Annualized in the US economy (3.3% exp.), followed by the Chicago PMI and the sentiment gauge tracked by the Reuters/Michigan index.
EUR/USD levels to consider
As of writing the pair is up 0.29% at 1.1358 and a break above 1.1368 (high Jan.28) would open the door to 1.1380 (200-h MA) and finally 1.1384 (high Jan.28). On the other hand, the next support lies at 1.1303 (100-h MA) followed by 1.1262 (low Jan.29) and then 1.1261 (50% of 1.1098-1.1423).
EUR/USD now looks to US GDP
The preliminary inflation figures in the euro bloc for January have shown an extension of what it seems to be an entrenched deflationary scenario in the region. The results were priced in however, as reflected by the subsequent improvement (indifference?) in the pair in the wake of the release. Previously, German retail sales posted mixed prints although markets largely ignored them.
Next on tap will be the US releases, with the salient point being the Q4 GDP Annualized in the US economy (3.3% exp.), followed by the Chicago PMI and the sentiment gauge tracked by the Reuters/Michigan index.
EUR/USD levels to consider
As of writing the pair is up 0.29% at 1.1358 and a break above 1.1368 (high Jan.28) would open the door to 1.1380 (200-h MA) and finally 1.1384 (high Jan.28). On the other hand, the next support lies at 1.1303 (100-h MA) followed by 1.1262 (low Jan.29) and then 1.1261 (50% of 1.1098-1.1423).