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Technical Analysis EUR/USD for February 15, 2016

By:
David Becker
Published: Feb 13, 2016, 03:54 UTC

The EUR/USD moved lower on Friday giving back some of its recent gains as riskier assets increased in value, driving bonds lower which benefited the

Technical Analysis EUR/USD for February 15, 2016

The EUR/USD moved lower on Friday giving back some of its recent gains as riskier assets increased in value, driving bonds lower which benefited the dollar. Q4 German GDP did little to help the Euro gain traction. Support is seen near the 10-day moving average near 1.1157. Resistance is seen near the October highs at 1.1495. Momentum remains positive with the MACD printing in the black, but the trajectory is flattening reflecting consolidation.

German fourth quarter GDP printed at 0.3% quarter over quarter, in line with expectations and equaling the reading that was seen in the Q3. The print puts the full year growth rate at 1.7%. The annual adjusted rate declined to 1.3% year over year in the fourth quarter in 2015, after climbing 1.7% year over year in the third quarter.

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About the Author

David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.

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