EUR/USD May 27 – Steady after Solid US, German Numbers

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EUR/USD continues where it ended last week, trading in the mid-1.29 range. The week ended on a high note, as both US and German numbers beat expectations. GfK German Consumer Climate posted a multi-year high, and German Ifo Business Climate easily beat the estimate. In the US , Core Durable Goods Orders bounced back and recorded a strong gain. Monday will be marked by thin volume, as the US markets are closed for a holiday, and there are no releases out of the Eurozone.

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

EUR/USD Technical

  • Asian session: Euro/dollar was steady, as the pair dropped to a low of 1.2915, and consolidated at 1.2938. There is no change in the European session.

Current range: 1.2880 – 1.2960.

Further levels in both directions:  EUR USD Daily Forecast May27

  • Below: 1.2890, 1.2840, 1.2800, 1.2750, 1.27, 1.2624 and 1.2587.
  • Above: 1.2960, 1.30, 1.3050, 1.31, 1.3160 and 1.32, 1.3255, and 1.3290.
  • 1.2880 continues to provide support.
  • 1.30 is at strong resistance line.

Euro starts off week quietly in thin holiday trading – click on the graph to enlarge.

EUR/USD Fundamentals

  • There are no releases on Monday from the Eurozone or the US.

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

EUR/USD Sentiment

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About Author

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.

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