Euro/Dollar Analysis Update – Thin Illiquid Trading Anticipated

December 26, 2012 in Forex Fundamentals and News

Euro/Dollar Analysis Update – Thin Illiquid Trading Anticipated Near Year End

  • The 1.3300 area pinbar from last week was followed by a drop of around 60 pips and a test of the recent range highs.  The euro had subsequently found a bid after a decline to previous 1.3171 area resistance.
  • Relative inactivity could now be the overriding theme due to the Christmas holiday period.  The FX markets are set to resume trading on Wednesday but thin liquidity is anticipated with European markets closed.
  • Key upcoming event risk includes US Unemployment Claims, CB Consumer Confidence and New Home Sales on the 27th Dec.  The fiscal cliff likewise remains as a key focus.

EUR/USD Update – D1 Chart 24/12/12  

eurusd price action analysis

  

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