EUR analysis 24.12.2019

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its rebound to the fourth session in eight sessions from its highest since last August 13 against the US dollar amid the scarcity of economic data by the eurozone economies due to Christmas holidays there and on the eve of developments The economic data expected today by the American economy.

At 05:18 am GMT, the euro against the US dollar fell 0.01% to 1.1088 levels, compared to the opening levels at 1.1089, after the pair achieved its lowest level during the trading session at 1.1085, while achieving the highest at 1.1094.

Investors are currently awaiting by the US economy, the largest economy in the world, to disclose the reading of the Richmond Industrial Index, which may reflect an expansion of 1 value compared to a contraction of 1 value in the previous reading last November, and this comes amid looking to reveal the US Treasury Its semi-annual report on economic policies and the international exchange rate.

Technical analysis

Major currency pairs show quiet and narrow trading, affected by the holiday of financial markets, so that the proposed scenarios in our recent reports remain unchanged, and we recommend reviewing our previous reports to learn about the trends and expected objectives for the coming period.