Home EUR/USD Dec. 27 – Euro Testing 1.38 After Sharp Gains
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EUR/USD Dec. 27 – Euro Testing 1.38 After Sharp Gains

EUR/USD  has been trading quietly around the Christmas holiday, but that has changed in dramatic fashion in Friday trading, as low liquidity  has led to strong upward movement from the euro.  The pair has added about one cent on the day and is poised to cross above the 1.38 level in Friday’s European session. On Thursday, US Unemployment Claims posted sharp drops and beat the estimate. The week wraps up with two releases, both from the US. There are no Eurozone releases on Friday.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

EUR/USD Technical

  • EUR/USD  was on  the move  upwards throughout  the Asian session, barreling above the 1.37 early in the  session. The pair consolidated at 1.3764.  The pair  continues to push higher in the European session and is testing the 1.38 line.
  • Current range: 1.3675 to 1.3710.

Further levels in both directions:   EUR USD Daily Forecast Dec. 27th

  • Below: 1.3710, 1.3675, 1.3615, 1.3525, 1.3440, 1.34, 1.3320, 1.3240, 1.3175 and  1.31.
  • Above: 1.3800, 1.3832, 1.3940 and 1.4036.
  • On the upside, 1.3800 is under strong pressure. 1.3832 follows.
  • On the downside, 1.3710 has strengthened as the euro has moved higher.  1.3615 is next.

 

EUR/USD Fundamentals

  • 15:30 US Natural Gas Storage. Exp. -177B.
  • 16:00 US Crude Oil Inventories. Exp. 0.5%.

For more events and lines, see the Euro to dollar forecast.

EUR/USD Sentiment

 

Kenny Fisher

Kenny Fisher

Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer.