Euro - Dollar Analysis

EU Session Analysis for CFD Instruments 17/12/2024

Fundamental analysis

17 December, 2024

In Asian trading, the euro fell against the US Dollar, trading below the 1.0500 mark.

The EUR/USD dropped after German Chancellor Scholz lost a vote of confidence, confirming the collapse of the government and fresh elections next year and ahead of tomorrow’s likely Fed rate cut. In Europe, German Ifo Business Climate data for December (85.6 exp) will be posted (09:00 GMT) and German ZEW Economic Sentiment for December (7.0 exp) will be published (10:00 GMT). In the US, Retail Sales for November (0.5% expected) and Industrial Production PMI data for November (0.1% exp) will be released at 13:30 GMT and 14:15 respectively.

Technical analysis

Time Frame: 1 hour

EURUSD Support & Resistance Table - 17/12/2024

Support & Resistance	Level	Explanation
Resistance 2	1.0542	Daily R2
Resistance 1	1.0523	Daily R1
Support 1	1.0472	Daily S1
Support 2	1.0453	Daily S2

EURUSD Indicator Table - 17/12/2024

Indicator	Signal
SMA 20	Neutral
SMA 50	Sell
SMA 100	Sell
MACD( 12;26;9)	Sell
RSI (14)	Sell
Stochastic ( 9;6;3)	Buy

EURUSD Indicator / Period Table - 17/12/2024

Indicator / Period	Day - Sell	Week - Sell	Month - Sell
MACD( 12;26;9)	Sell	Sell	Sell
RSI (14)	Sell	Sell	Sell
SMA 20	Neutral	Sell	Sell

EURUSD 17/12/2024 - Reference Price : 1.0497

Sell

Simple Moving Average	Buy (0)	Sell (2)
Technical Indicators - Oscillators	Buy (1)	Sell (2)

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