The US dollar moves up and down during the US session without a clear direction. EURUSD rose during the week, far from the top. 200-day SMA 1.0 15 holds the key for further gains. EURUSD fell to 1.0325 in the US session and then quickly rose to the 1.0350 area during a quiet period in the forex market. The greenback rose as market sentiment weakened, which did not last long. Quiet Friday The US dollar strengthened during the US session while US stocks pared losses and crude fell. The volatility of the exchange rate was limited and the prices were not far from the previous day’s close. Economic data released on Friday showed that US home sales fell for the ninth month in a row in October. The annual tax fell to . 3 million from .71 million, more than the market consensus of .38 million. The numbers did not affect the market. The DXY’s weekly gains are modest following signs of easing inflation and better than expected sales figures. Next week’s key events include Tuesday’s FOMC minutes. US markets will not be open on Thursday for the Thanksgiving holiday. Flash PMIs for November are due on Wednesday. The European Central Bank will publish the minutes of its latest meeting on Thursday. NOT SO POSITIVE WEEK for EURUSD ends the week slightly higher and far from the top. On Tuesday, it peaked at 1.0 80, the highest level since July 1, and retreated sharply. The Euro rally was led by the 200-day simple moving average (currently 1.0 15) and retreated to 1.0303. „The EURUSD pair has lost its long-term uptrend, but nothing is said and done. The weekly chart shows that the EURUSD remained at the upper end of last week’s range and was higher. The 20 Simple Moving Average (SMA) remains near 1.0030, barely above the critical Fibonacci level of 61.8% around the November rally parity. The 100 SMA is crossing the 200 SMA and both are rising well above current levels, which is not a good sign for Euro bulls,” says lead analyst Valeria Bednarik in the latest report.

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