13 Jan 2015
EUR/USD struggles around 1.1800
FXStreet (Edinburgh) - The demand for the shared currency remains subdued now, with EUR/USD recovering some ground after dipping to session lows in the vicinity of 1.1790.
EUR/USD remains bearish
The outlook for the EUR has not changed so far. Market participants expect even more pullbacks, as we get closer to the ECB meeting on January 22nd and the prospects of the adoption of some sort of QE by the European Central Bank keeps looming over the markets, thus capping the occasional bullish attempts. While consumer prices in Germany and the EMU will be the main highlights in the euro bloc this week, the bulk of the action for the pair will come from the USD side, with retail sales, jobless claims and inflation figures tracked by the CPI amongst the salient events ahead in the week.
EUR/USD levels to watch
At the moment the pair is losing 0.36% at 1.1795 with the next support at 1.1754 (2015 low Jan.8) followed by 1.1640 (low Nov. 2005) and then 1.1376 (low Nov.2003). On the upside, a break above 1.1871 (high Jan.12) would expose 1.1897 (high Jan.7) and finally 1.1916 (10d MA).
EUR/USD remains bearish
The outlook for the EUR has not changed so far. Market participants expect even more pullbacks, as we get closer to the ECB meeting on January 22nd and the prospects of the adoption of some sort of QE by the European Central Bank keeps looming over the markets, thus capping the occasional bullish attempts. While consumer prices in Germany and the EMU will be the main highlights in the euro bloc this week, the bulk of the action for the pair will come from the USD side, with retail sales, jobless claims and inflation figures tracked by the CPI amongst the salient events ahead in the week.
EUR/USD levels to watch
At the moment the pair is losing 0.36% at 1.1795 with the next support at 1.1754 (2015 low Jan.8) followed by 1.1640 (low Nov. 2005) and then 1.1376 (low Nov.2003). On the upside, a break above 1.1871 (high Jan.12) would expose 1.1897 (high Jan.7) and finally 1.1916 (10d MA).