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EUR/USD taken lower on demand for the greenback - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst FXStreet noted that the Dollar advanced on Thursday, supported by weak European readings and the OPEC that failed to reach an agreement on a cut on oil output.

“Weak German inflation readings alongside with Draghi’s comments before the Finnish Parliament, suggesting the ECB will remain on hold next week, weighted the most on the common currency, pressuring its daily low ahead of Asian opening”.

“With the US closed on Thanksgiving holiday, trading over the afternoon has been limited, situation that will likely extend into Friday, when US stocks will have an early close”.

“Technically the EUR/USD 1 hour chart shows indicators heading south into negative territory, as 20 SMA gains bearish slope above current price. In the 4 hours chart price pressures its 20 SMA heading higher a few pips below current price, while indicators turned lower but hold above their midlines”.

“The 1.2440 static support level stands in the way of further falls towards 1.2400, while sellers will likely surge on approaches to 1.2520 price zone”.

GBP/USD off the lows and over to Asia

GBP/USD is trading at 1.5734, down -0.39% on the day, having posted a daily high at 1.5828 and low at 1.5717.
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US Session: Holidays or no holidays, greenback prevails and Oil dumps

The US were out today for Thanksgiving celebrations, but it seemed that there were a few desks lurking around, especially around the late European trade that had some squaring up to do and were in for the action around OPEC. The greenback prevailed into a calmer afternoon US trading time zone.
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