EURUSD rose yesterday and closed at 1.3578. In Germany Angela Merkel and the centre-left Social Democratic Party reached a deal to form a coalition government. The Consumer Confidence in the largest economy in the Eurozone rose to a reading of 7.4. The European Central Bank stated in its semi-annual financial stability review that the indicators measuring the systematic stress in the Euro area have fallen back close to their pre-crisis levels. In Italy the Italian Senate voted to expel the former Prime Minister, Silvio Berlusconi from the Parliament, with immediate effect, as a result of his conviction for tax fraud. Meanwhile the Prime Minister Enrico Letta won a confidence vote on the 2014 budget. Due to the bank holiday in the United States, because of the Thanksgiving day celebration we don’t expect much movements on the market, but investors should be fully aware of the possible high volatility which may come due to the low liquidity during the US session. Support for the EURUSD is seen at 1.3520 and resistance is seen at 1.3608. The HotForex Traders Board shows that 64 percent of the traders are short on the EURUSD.
EURUSD trading below the 1.3600 level in the late European session. US banks are closed due to the Thanksgiving holiday in the United States.
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