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EUR/USD  continues to trade at high levels on Tuesday.  The pair has hit six-week highs, as it trades in the mid-1.37 range in Tuesday’s European session. German releases were sluggish to start the week, and French Industrial Production posted a decline on Tuesday.  Later on, ECB head Mario Draghi will deliver remarks in Rome at  an event at the Bank of Italy.  Over in the US, it’s another quiet day, highlighted by JOLTS Job Openings.

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

EUR/USD Technical

  • EUR/USD  was uneventful in the  Asian  session,  touching a high of 1.3767  and  consolidating at 1.3749. The pair is unchanged  in the European session.
  • Current range: 1.3710 to 1.3800.

Further levels in both directions:   EUR USD Daily Forecast Dec. 10th

  • 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, 1.3870, 1.3940 and 1.4036.
  • 1.3710 is providing weak support.  1.3675 is next.
  • The round number of 1.3800 is the next line of resistance. 1.3870 follows.

EUR/USD Fundamentals

  • 7:45  French Industrial Production.  Exp. 0.2%, Actual -0.3%.
  • 9:00  Italian Industrial Production.  Exp. 0.3%, Actual 0.5%.
  • All Day – ECOFIN Meetings.
  • 12:00 ECB President Mario Draghi Speaks.
  • 12:30 US NFIB Small Business Index. Exp. 92.7 points.
  • 15:00 US JOLTS Openings. Exp. 3.96M.
  • 15:00 US Wholesale Inventories. Exp. 0.3%.

 

*All times are GMT

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

EUR/USD Sentiment

 

 

 

 

 

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