The daily chart for the December Euro currency futures (E6Z26) shows that prices have seen an upside breakout from a basing area at lower price levels. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bullish posture, as the blue MACD line is above the red trigger line and both lines are trending higher.
Fundamentally, the recent decline in crude oil (CBV26) prices is benefiting the Eurozone economy, which relies heavily on energy imports. Also, the recent lack of clarity over the Federal Reserve’s U.S. monetary policy has been greenback-bearish on the foreign exchange market.
