The euro remains positive. Data on the Euro zone’s trade balance

The single currency keeps pressure on the US dollar. In general, this dynamics of the EUR/USD pair is associated with the general weakening of the US currency, as market participants focus on other Central Banks, as there are signals about a possible tightening of monetary policy this year. Additional support for the euro is provided by data on the trade balance of the euro area.

• The trade balance excluding seasonal fluctuations in November was 26.3 billion euro, which is lower than the forecast of 28.2 billion, but still exceeds the previous value of 18.9 billion euro.
• The trade balance in November was 22.5 billion, which exceeds the previous value of 19.0 billion euro.

Technical analysis: The pair EUR/USD was fixed above the resistance line of the rising channel on H4, which indicates a further strong growth potential. The main support levels at 1,2205, 1,2150. Also, if you look at the monthly chart, the price of the instrument develops the figure “double bottom” with the growth potential to the mark 1.2400.

Fig. EUR/USD. The current price is $ 1.2263.

Alexander Sivtsov