EUR/USD: Euro retains an upward bias prior to a few important statistics

© O Financista. EUR/USD continued to rise after the day lively Friday – The EUR/USD pair remains well directed this Monday morning, after a balance to the upside last week, a week that ended with a Friday, fairly lively.

It should be remembered that the report NFP much better than expected, had boosted the Dollar, leading to a correction of the EUR/USD pair.

However, a speech by the boss of the Fed came shortly after to penalize the Dollar, and put the EUR/USD. Jerome Powell has said that the Fed would be ” patient “, fuelling speculation about a pause in the tightening process of rate US.

Statitsiques to watch this Monday

Germany’s retail sales for the month of November released this morning, to +1.4% against +0.4% expected also seem to support the Euro, although the other hand, orders in the German industry are shown under the consensus at -1% against -0.1% expected.

Later in the morning at 11am, the sales to the details of the Euro Zone will also be expected, while this afternoon the USA, this is the service ISM index for the month of December which will be under the spotlight.

It’s also important not to forget the folders geopolitical course, and it will therefore be necessary to monitor any statements in regards to the Brexit, trade war China-USA, or even the Shutdown of the u.s. government.

Technical analysis EUR/USD

From a graphical point of view, the next potential resistance is at 1.1450, before the area around the psychological threshold of 1.15, which is shaping up as a major resistance that has not been tested since 22 October last.

For the reduction, the area of 1.1380-1.14 will be the first support, before 1.1370-75, where converging moving averages 100 and 200 hours, and then 1.1350, 1.13, 1.1270 and 1.1215, which is the lowest annual 2018.

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