EUR remains strong despite German Consumer Confidence
Germany's GfK Consumer Confidence Index for December was released at -6.7, below -4.9 expected.
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Earlier today, Germany's GfK Consumer Confidence Index for December was released at -6.7, below -4.9 expected. Euro remains strong anyway.
From a technical point of view, on a daily chart, EUR/USD still stands above its 50-day moving average (in blue). Readers may therefore consider the potential for further advance above 1.1605. The nearest threshold would be set at September top at 1.2015 and a second one would be set at previous overlap at 1.2150.
Source: TradingView, GAIN Capital
Earlier today, Germany's GfK Consumer Confidence Index for December was released at -6.7, below -4.9 expected. Euro remains strong anyway.
From a technical point of view, on a daily chart, EUR/USD still stands above its 50-day moving average (in blue). Readers may therefore consider the potential for further advance above 1.1605. The nearest threshold would be set at September top at 1.2015 and a second one would be set at previous overlap at 1.2150.
Source: TradingView, GAIN Capital
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