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EUR/USD  is trading at high levels as we begin the new trading week. The pair is trading in the low-1.37 range on Monday, after gaining close to 200 points last week. Eurozone releases started off the week on a sour note, as German Trade Balance slipped in November, as did Eurozone Sentix Investor Confidence. We’ll get a look German Industrial Production later in the day. Over in the US, today’s only event is a speech by FOMC Member James Bullard on  monetary policy in St. Louis.

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

EUR/USD Technical

  • EUR/USD  showed little movement late  in the  Asian  session,  trading just above the 1.37 line for most of the session.  The pair  has edged higher  in the European session.
  • Current range: 1.3710 to 1.3800.

Further levels in both directions:     EUR USD Daily Forecast Dec. 9th

  • 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.
  • The pair  is  testing support at 1.3710. 1.3675 is next.
  • The round number of 1.3800 is the next line of resistance. 1.3870 follows.

EUR/USD Fundamentals

  • 7:00  German Trade  Balance.  Exp. 17.4B, Actual 16.8B.
  • 9:30  Eurozone Sentix Investor Confidence.  Exp. 10.5, Actual 8.0 points.
  • 11:00 German Industrial Production. Exp. 0.8%.
  • All Day – Eurogroup Meetings.
  • 18:05 FOMC Member James Bullard Speaks.

 

*All times are GMT

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

EUR/USD Sentiment