EUR/USD : The Euro Dollar remains stable following the publication of the euro area




The pair EUR/USD has not shifted much on the Forex, following the publications of this morning.

In the euro zone, the CPI-annualized slowed to 1.4% against 1.5% expected earlier, and the CPI core came in at 0.9% vs. 1.1% expected and previously.

The GDP of Q3 appears to be unchanged and in line with expectations at 0.6% q/q and 2.5% y/y against 2.1% expected earlier.

The unemployment rate declined to 8.9% vs. 9.0% expected and previously.

Inflation continues to disappoint, as stipulated by the ECB, which is not a surprise today, while growth remains relatively on track to recovery.

On Forex, EUR/USD remains stable and continues its consolidation between 1.1620 and 1.1660.

The bearish view remains in place below 1.1660, and the immediate risks are tilted towards a break below 1.1620 for a new test of 1.1580.

However, the risk of rebound above 1.1660 are not to be neglected.

A break of the range in the 1.1580/1.1660 remains, therefore, generally necessary to observe a new trend of very short-term, while the bias remains tilted to the downside under the 1.1660.

Above 1.1660, we could go back in the direction of 1.1680, 1.1700 and 1.1720.

Below 1.1580, the decline would resume towards the 1.1550 and 1.1500/1.1490.

On the economic calendar we follow, this afternoon, the index of employment cost index, Case-Schiller, housing prices, and consumer confidence according to the Conference Board.

The pair EUR/USD is currently evolving to 1.1633 on the Forex.

Chart EUR/USD H1

See also our charts EUR/USD in real time.

This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.



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