The single currency of the European Union region fluctuated in a narrowly bullish range during the US session against the US dollar amid a lack of economic data from the Eurozone economies and following developments and economic data that followed Wednesday on the US economy, the largest economy in the world.
On Sunday, the Italian Senate voted to approve the Italian government's budget proposal for 2019, which was agreed upon with the European Union. Context The European Commission recently reported that Italy has avoided punitive measures against violations of EU budgetary laws.
On the other hand, we followed the US S & P composite house price index's annual reading of 20, which showed a slowdown in growth to 5.0% from 5.2% in September, beating expectations of 4.8%. Rachmond Industrial shrank to a value of 8 versus growth at a value of 14 last November, contrary to expectations that indicated a growth to 16.
US President Donald Trump said on Tuesday that the government's closure would continue until a deal was secured to build a wall along the border with Mexico. The $ 5 billion financing of the wall was negotiable, and he expressed confidence in Treasury Secretary Sevan Menutchen's remarks. As the Federal Reserve raises interest rates at a rapid pace and comes amid the entry of the closure of the government for the fifth day in a row.
Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.
In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.
Technical Analysis
The EUR / USD pair is still fluctuating around the moving averages and maintains its stability below the pivotal resistance 1.1443. Therefore, our bearish outlook remains unchanged as it is supported by Stochastic negativity, noting that our awaited targets start at 1.1300 and extend To 1.1181 after breaking the previous level.
The trading range for today is expected among 1.1300 support and 1.1443 resistance
Support and resistance:
Support: 1.1341-1.1300-1.1200
Resistance: 1.1386-1.1443-1.1500
The general trend for today is bearish