FXStreet (Guatemala) – EUR/USD is currently subdued below the key 1.10 handle and consolidating close at 1.0920 support.
EUR/USD is sideways in a non eventful market as we await 2016 and prepare for NYE celebrations around the Globe. In Asia, we have limited desk and Japan is out. European markets will close early but the US is open until official closing bell.
There is room still for a little activity in thin trading with the last of the data from the US economy for 2015 that will be released, but do not expect any fireworks until 12pm 31st December 2015 as we will welcome 2016 and all that volatility to look forward in uncertainties around the ECB, China, global growth, commodity prices, EM’s and of course the Fed.
Technically, Valeria Bednarik, chief analyst at FXStreet explained that the 4 hours chart shows that the price has remained below a now bearish 20 SMA, while the technical indicators head lower below their mid-lines, in line with additional declines.
“Nevertheless, short term buying interest has appeared around the 1.0900 figure, the 38.2% retracement of the latest daily decline. Some additional declines below the 1.0880/1.09000 figure is required to talk about a possible bearish move during the following sessions, and once the market returns to normal.”
EUR/USD is currently subdued below the key 1.10 handle and consolidating close at 1.0920 support.
(Market News Provided by FXstreet)