EUR/USD Dips as US Dollar Recovers, Awaits Key Economic Data
EUR/USD Edges Higher:
📈 The EUR/USD edged higher, reaching the 1.1000 mark.
💵 The Dollar struggled despite increased Treasury yields.
Mixed US Economic Indicators:
📊 US economic indicators presented a mixed picture.
📉 Declines in the Philadelphia Fed Index and a revision in Q3 GDP.
↔️ Jobless Claims remained steady.
Crucial Core PCE Inflation Data Awaited:
👀 Investors await the crucial Core PCE inflation data.
📈 Anticipating a 0.2% rise for November.
Dollar Remains Subdued:
📉 Despite the rebound in US yields, the Dollar remains subdued.
📉 Limiting the EUR/USD upside potential amidst thinner market conditions.
Thursday's EUR/USD Movement:
⬆️ On Thursday, the EUR/USD moved higher and reached the upper band of the Bollinger Bands.
⬇️ Currently, the price is moving slightly below the upper band, suggesting a potential upward movement.
Relative Strength Index (RSI):
⚖️ The Relative Strength Index (RSI) maintains its position at 66.
😐 Signaling a neutral outlook for this currency pair.
Key Technical Levels:
🚀 Resistance levels: 1.1017, 1.1138.
📉 Support levels: 1.0946, 1.0830.
📈 The EUR/USD edged higher, reaching the 1.1000 mark.
💵 The Dollar struggled despite increased Treasury yields.
Mixed US Economic Indicators:
📊 US economic indicators presented a mixed picture.
📉 Declines in the Philadelphia Fed Index and a revision in Q3 GDP.
↔️ Jobless Claims remained steady.
Crucial Core PCE Inflation Data Awaited:
👀 Investors await the crucial Core PCE inflation data.
📈 Anticipating a 0.2% rise for November.
Dollar Remains Subdued:
📉 Despite the rebound in US yields, the Dollar remains subdued.
📉 Limiting the EUR/USD upside potential amidst thinner market conditions.
Thursday's EUR/USD Movement:
⬆️ On Thursday, the EUR/USD moved higher and reached the upper band of the Bollinger Bands.
⬇️ Currently, the price is moving slightly below the upper band, suggesting a potential upward movement.
Relative Strength Index (RSI):
⚖️ The Relative Strength Index (RSI) maintains its position at 66.
😐 Signaling a neutral outlook for this currency pair.
Key Technical Levels:
🚀 Resistance levels: 1.1017, 1.1138.
📉 Support levels: 1.0946, 1.0830.