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Forex Fundamental Analysis: The EUR/USD keeps setting new lows

Forex Fundamental Analysis: The EUR/USD keeps setting new lows

Euro

At first the European single currency rose against the dollar, but then decreased and as a result it finished the session with a level of 1.2190-1.2200 breakthrough down. We expect that the third quarter final GDP assessment will show the before announced 0.3% q/q, while the consumer spending showed the growth in November by 0.6% m/m vs. -0.9% m/m in October. We expected the US GDP data publication.

The EUR/USD keeps setting new lowsThe pair euro/dollar initially rose slowly to the resistance around 1.2270-1.2290, then turned back and slowly fell to the support near 1.2180-1.2200 and broke it downwards. This tendency may remain in the coming days, but there are possible sharp movements in either direction due to the low liquidity.

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