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Forex Fundamental Analysis: The pound fell after the British statistics

Forex Fundamental Analysis: The pound fell after the British statistics

07 January 2015, EUR/USD

Euro

The euro weakened against the dollar. We expect the December PMI activity indices final assessment. Forecasts suggest that there should not be any changes – all indicators except for the French will remain in the growth zone above 50.0. The EUR/USD continued to fall, marking fresh lows at the level of 1.1860-1.1880. The speculators decided to take profits as a result the pair was able to recover to the resistance around 1.1950-1.1970. Undoubtedly, this recovery does not mean the downward trend reversal and the risks of its resumption are preserved.

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