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The EUR/USD is trading in quite a limited range of 30 pips ever since the day started, with the calendar pretty much empty in this last week of the year. The US will release a minor manufacturing indicator later today, although it's hardly expected to affect the forex board. European indexes trade slightly higher, and the common currency is also aiming higher against the greenback, although the pair remains contained below the key 1.1000 level.

This will be a second short week in-a-row, with early closes in several worldwide markets on Thursday and a full holiday on Friday. Additionally, there won't be any relevant fundamental releases, except maybe, the ECB latest meeting accounts on Thursday, all of which points for a minimum activity across the financial boards.

View the Live chart of the EUR/USD


In the meantime, the 4 hours chart for the EUR/USD pair shows that the price is holding above the 61.8% retracement of its latest bearish move, having recovered the generally bullish tone previous to the FED announcement of rising rates. The same chart shows that the price is above a bullish 20 SMA and that the technical indicators hold in positive territory, albeit the pair lacks momentum, due to the absence of traders around. Some further gains can reach 1.1000, while a candle opening below 1.0950 may see a slow decline towards 1.0920 during the upcoming sessions, with no much more to be expected these days. 


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