- Major markets are missing their key participants as volumes wither, leaving the FX marketspace to middle.
- Plenty of concerns will be following investors through the doors into 2019.
EUR/USD is seeing some downside play in thin Asian markets, testing into 1.1425 as the major pair struggles within trading ranges established late last week.
Broader markets remain sedate and volumes steeply decreased as investors pull back for the year's end, and major assets see thin play within recent ranges. The Euro is heading into 2019 on mixed tones as the European continent grapples with an array of economic headwinds, from Italy's lagging budget concerns to Brexit, as well as threats of a global economic slowdown, and soured market sentiment could be ringing in 2019 as the new year looks set for a rough ride.
The economic calendar is devoid of any meaningful information ahead of the News Years shutdown, though the US side will be seeing the Dallas Fed's Manufacturing Business Index for December at 15:30 GMT, which last printed at 17.6.
EUR/USD Levels to watch
The Fiber's technical outlook remains largely unchanged, and as FXStreet's own Valeria Bednarik noted:
The pair retains a positive tone according to the 4 hours chart, although the 1.1460/80 region is a tough static resistance area that won't be easy to break. In the mentioned chart, the pair is well above its moving averages, with the 20 SMA gaining upward strength. Technical indicators are neutral-to-bullish within positive levels, below their daily highs, indicating limited buying interest.
Support levels: 1.1420 1.1390 1.1360
Resistance levels: 1.1480 1.1510 1.1545
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
USD/JPY off lows, stays pressured near 142.50 ahead of BoJ policy decision
USD/JPY has bounced off lows but remains pressured near 142.50 in the Asian session on Friday. Markets turn risk-averse and flock to the safety in the Japanese Yen while the Fed-BoJ policy divergence and hot Japan's CPI data also support the Yen ahead of the BoJ policy verdict.
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood
AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed.
Gold consolidates near record high, bullish potential seems intact
Gold price regained positive traction on Thursday and rallied back closer to the all-time peak touched the previous day in reaction to the Federal Reserve's decision to start the policy easing cycle with an oversized rate cut.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV
Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD (RUSD) stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.