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8 Jan 2015
EUR continues to lose ground, sees weak support at 1.1734 – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, shares that EUR/USD has continued its slide today, falling below 1.1800 levels, seeing a weak support at 1.1734 levels.
Key Quotes
“EUR/USD continues to lose ground on Thursday, as the pair trades in the mid-1.17 range in the European session. The euro has lost over 200 points in the first week in January, as the pair finds itself at its lowest levels since December 2009. Will the euro’s slide continue this week?”
“On the release front, Eurozone Retail Sales posted a strong gain of 0.6%. German Factory Orders posted a sharp decline of 2.4%. Over in the US, today’s highlight is Unemployment Claims, with an estimate of 291 thousand.”
“EUR/USD was flat in the Asian session. The pair has posted losses in the European session, breaking below support at 1.1802.”
“1.1802 has switched to a resistance role as the euro continues to lose ground. 1.1926 is stronger. 1.1734 is providing weak support. 1.1634 is stronger.”
“Current range: 1.1734 to 1.1802”
Key Quotes
“EUR/USD continues to lose ground on Thursday, as the pair trades in the mid-1.17 range in the European session. The euro has lost over 200 points in the first week in January, as the pair finds itself at its lowest levels since December 2009. Will the euro’s slide continue this week?”
“On the release front, Eurozone Retail Sales posted a strong gain of 0.6%. German Factory Orders posted a sharp decline of 2.4%. Over in the US, today’s highlight is Unemployment Claims, with an estimate of 291 thousand.”
“EUR/USD was flat in the Asian session. The pair has posted losses in the European session, breaking below support at 1.1802.”
“1.1802 has switched to a resistance role as the euro continues to lose ground. 1.1926 is stronger. 1.1734 is providing weak support. 1.1634 is stronger.”
“Current range: 1.1734 to 1.1802”