Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Euro Registers Another Winning Week

By MarketPulse (Kenny Fisher)ForexDec 18, 2020 06:05AM ET
Euro Registers Another Winning Week
By MarketPulse (Kenny Fisher)   |  Dec 18, 2020 06:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

The euro is showing small losses in the Friday session. Currently, EUR/USD is trading at 1.2246, down 0.18% on the day.

German business morale rises

The week wrapped up with positive news out of Germany, as the Ifo Business Climate rose to 92.1 in December from an upwardly revised reading of 90.9 in November. The improvement in business morale was all the more impressive given that Germany is once again in a lockdown due to the COVID pandemic. After a rebound in Germany’s GDP in Q3, there are concerns that a prolonged lockdown will drag growth lower in Q4, possibly showing contraction. Inflation in Germany remains low, but the Producers Price Index eked out a small improvement in November, rising from 0.1% to 0.2%. Earlier in the week, German PMIs for November indicated that manufacturing continues to expand, while the services sector remains in contraction territory.

European Parliament sets Sunday deadline for Brexit

Brexit negotiations between London and Brussels are going down to the wire. With less than two weeks before the UK sails off from the EU, an agreement remains elusive. Deadlines have come and gone, but the European Parliament has set a drop-dead deadline of Sunday to announce a deal, saying that otherwise, it will be unable to approve a deal in time. Prime Minister Johnson and EU Commission President von der Leyen have both said that an agreement will be difficult to reach, but this could be last-minute posturing as the sides dig in their heels to obtain the best possible deal. Investors remain cautious but hopeful that a deal is imminent, and the announcement of a deal would likely boost the euro.

EUR/USD Technical

EUR/USD Daily Chart
EUR/USD Daily Chart

  • EUR/USD faces resistance at 1.2299. Close by, there is resistance at 1.2328
  • There is support at 1.2216, followed by a support line at 1.2162
  • The pair was situated at the 10-day MA line earlier in the week but has moved higher

Original Post

Euro Registers Another Winning Week

Related Articles

Euro Registers Another Winning Week

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email