Euro - The euro is capped at the 1.05 points, or it will fall back in a double top
The euro is restricted by the 1.05 points, or it will fall back in a double top
EUR/USD rose significantly on Thursday, hitting a high of 1.0533. At present, it is still restricted at the 1.05 points, and there is a chance to regroup the decline with a small double-top technical pattern. In addition, the technical chart also shows that the MACD indicator has just broken the signal line, which also indicates that the euro is about to face a callback tendency. Continue to pay attention to the 1.02 level that was stable at the beginning of last week. If the market outlook loses this area, the euro will fall back into weakness. The extended target will be seen to reach the 1.0160 and 1.00 point, and it is expected to further explore the 0.98 level. Resistance will continue to focus on the 1.05 point and the 250-day moving average at 1.0560, and the next level is expected to be 1.08.
This week's news:
ECB's Lagarde says inflation hasn't peaked yet, may even be higher than expected
The initial value of German CPI in November increased by 10.0% over the same period last year, down 0.5% from the previous month
The initial value of HICP in Germany in November was the same as that of the previous month, and it was 11.3% higher than that of the same period last year
Unemployment rate in euro zone hits 6.5% in October
The final value of the manufacturing PMI in the euro zone in November was 47.1
Germany's manufacturing PMI final value in November was 46.2
Germany's October real retail sales fell 5.0% from a year earlier and 2.8% from the previous month
Resistance 1.0500 - 1.0560 – 1.0800*
Support 1.0200* – 1.0160 - 1.0000 – 0.9800
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