EUR analysis 26.12.2019

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 August 13 against the US dollar amid the scarcity of economic data by the euro area economies in the shadows of the end of the year and Christmas holidays there On the cusp of developments and economic data expected today, Thursday, by the US economy.

At 05:18 am GMT, the euro against the US dollar fell 0.03% to 1.1090 levels, compared to the opening levels at 1.1092, after the pair achieved its lowest level during the trading session at 1.1088, while achieving the highest at 1.1098.

Investors are currently awaiting by the American economy the release of the index of subsidy requests for the week that expires on December 21, which may reflect a decline by 12 thousand requests to 222 thousand applications compared to 234 thousand requests in the previous weekly reading, and this comes amid looking to reveal the Treasury The US report on its semi-annual report on economic policies and the international exchange rate.

Technical analysis

Major currency pairs continue to move along narrow paths, as the holiday season continues to affect trading volumes, and therefore, the scenarios proposed in our recent reports will remain.