Displaying items by tag: EurUsd

Wednesday, 06 January 2016

EUR/USD Daily Forecast – 07 January

Euro went back and forth in the course of the yesterday's session, edging up slightly after FOMC Meeting Minutes but with 1.08 handle offering plenty of resistance at the moments. As for tomorrow, pair is likely to find support around 1.07 handle, so this would be our short-term buying point and resistance above 1.0850 area, in a case of a rebound so this is where we would consider short-term selling.

Euro lower despite good Services PMI data

The Spanish service sector carried on the trend of sharp growth of activity seen throughout 2015 in December, despite the rate of expansion easing from November. Moreover, business sentiment picked up to an eight-month high. Slower, but still solid increases were seen with regards to new business and employment. Meanwhile, the rate of cost inflation remained relatively muted and companies lowered their output prices. The headline seasonally adjusted Business Activity Index dipped to 55.1 in December from 56.7 in November, but still signalled a marked monthly rise in activity at services companies. Analysts were predicting incline to 56.9.

EUR/USD Daily Forecast – 06 January

Yesterday's session brought Spanish and German Unemployment Change figures as well as Eurozone CPI data. The number of unemployed in Spain registered at the offices of the Public Employment Services in December decreased by 55,790 persons, above expectations on decrease by 52,600. Thus, unemployment has four consecutive years of decline in this month. In the past 12 months, registered unemployment has decreased by 354,203 people, the biggest decline in a year of historical series. Separate report on German Unemployment showed decline by 14,000, also beating forecasts on decrease by 7,000. Read more...

Tuesday, 05 January 2016

Daily Technical Analysis

EUR/USD Daily Forecast – 06 January

Euro continued its downtrend during the yesterday's session, with weaker than expected Eurozone CPI figures mostly influencing markets as there were no data releases in the US part of the session. Pair even tested 1.07 handle as a support. This is of course a bearish sign since we have broke decisively below 1.08 handle which was the bottom of recent consolidation range. Read more...

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