- Foreign exchange market with low volatility and ranges.
- The dollar presents mixed results.
- EUR/USD sideways after halting rises below 1.0450, with support at 1.0380.
The USR/USD is moving around 1.0400, sideways, with a mixed dollar on a low volume day. Most currency pairs are not significantly changed from Thursday’s close.
Wall Street did not operate on Thursday and will do so in a limited way on Friday. This favors low volume and the persistence of limited price ranges. Stock markets rise modestly and so do sovereign bond yields.
It was known that Germany’s GDP grew 0.4% in the third quarter, above the previously estimated 0.3%. Another report showed a less than expected improvement in the Gkf consumer confidence index in December from -41.9 to -40.2.
With no impactful economic data ahead of us, the focus is shifting to next week, in which inflation figures for the Eurozone and the US employment report will be published for November.
Lateral, without expected changes ahead
EUR/USD is moving sideways for these sessions. The pair reached a daily high at 1.0429 and then fell to 1.0381, to bounce back to the 1.0400 area. The very short-term outlook favors lateral routes.
In case of surpassing and affirming above 1.0450, the euro will be positioned to extend the bullish run. In the opposite direction, a confirmation below 1.0380 would generate bearish pressure. The next strong support is seen at 1.0300.
The pair is on track for its highest weekly close since mid-June, though it failed to break the previous week’s highs.
|Today’s last price||1.0406|
|Today Daily Change||-0.0007|
|Today Daily Change %||-0.07|
|Today daily open||1.0413|
|Previous Daily High||1.0449|
|Previous Daily Low||1.0382|
|Previous Weekly High||1.0482|
|Previous Weekly Low||1.0272|
|Previous Monthly High||1.0094|
|Previous Monthly Low||0.9632|
|Daily Fibonacci 38.2%||1.0423|
|Daily Fibonacci 61.8%||1.0407|
|Daily Pivot Point S1||1.0381|
|Daily Pivot Point S2||1.0348|
|Daily Pivot Point S3||1.0314|
|Daily Pivot Point R1||1.0447|
|Daily Pivot Point R2||1.0481|
|Daily Pivot Point R3||1.0514|
Source: Fx Street
I am a writer for World Stock Market. I have been working in finance for over 7-8 years, and I have experience with a variety of financial instruments. My work has taken me to Japan, China, Europe, and the United States. I speak Japanese and Chinese fluently.