Home EUR/USD Dec. 27 – Breaks Higher as Trading Volume

EUR/USD Dec. 27 – Breaks Higher as Trading Volume

EUR/USD managed to break through the resistance line that capped it, but didn’t get to far. Trading volume is on the rise after the long weekend. Here’s a quick update on technicals, fundamentals and community trends.

eur usd forecast December 28

Euro/Dollar breaking resistance.

EUR/USD Technicals

  • Asian session:  EUR/USD had an active session and it broke above 1.3180..
  • Current Range between 1.3180 and 1.3267.
  • Further levels in both directions: Below  1.3180, 1.3080,  1.30, 1.2920, 1.2722, 1.2587.  Above 1.3267, 1.3334, 1.3576,  1.37, 1.3786,  1.3950 and 1.4030.
  • 1.3080 important support below
  • 1.3440 is important resistance above and remains as such after a breakout attempt failed.

EUR/USD Fundamentals –

  • 14:00 US S&P/CS Composite-20 HPI. Exp.  -0.1%.
  • 15:00 US CB Consumer Confidence. Exp. 56.3 points.
  • 15:00 US Richmond Manufacturing Index. Exp. 11 points.

* All times are GMT.

For more events later in the week, see the EUR/USD forecast.

EUR/USD Sentiment

  • The Chinese rate hike risks global growth and triggered risk aversive trading, but at least for now, the effect is fading out.
  • Irish banks are still troubled and may draw weigh on the Euro.
  • France is danger of suffering a credit rating downgrade – France is Europe’s second largest economy. A downgrade or a warning will send the Euro way down.
  • Spanish bond yields have stabilized at high levels, around 5.50%
  • Trading volume isn’t as thin as yesterday, but it’s still low in comparison to regular days during the year.
  • Currensee Community: 50% are long , 50% are short. These are 1270 open positions in real accounts trading this pair at the moment.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.