Forex News: Markets Take a Breather for Christmas Day

EUR/USD

Forex News: After a dip Friday the pair bounced at support and pushed higher but remained in a range. The economic data was mixed and did not have a strong impact on the pair’s direction.

Technical Outlook

Today price action will come to a halt due to the Christmas Holiday. It is possible to see small and/or erratic movement but most Forex brokers around the globe will be closed.

Fundamental Outlook

Today is Christmas Day, so banks across Europe and in the United States will be closed. The markets will take a breather and the fundamental scene will be totally quiet.

GBP/USD

The British Current Account released Friday came below expectations but this didn’t have a notable impact on the pair and overall price action was jerky, with a slight bearish bias, probably due to the approaching of the Winter Holidays.

Technical Outlook

Most markets around the globe will be closed today for Christmas, so price action will come to a stop. Beware of possible traces of liquidity which may trigger short-lived movement.

Fundamental Outlook

Similar to the U.S. and the rest of Europe, the United Kingdom celebrates Christmas today and no economic releases will take place. Merry Christmas to those who celebrate it!

Written by: Bogdan Giulvezan

The article above is based on the writer’s 7-year experience and it does not constitute trading advice or investment recommendations, just a personal opinion and view of the market.