- Wednesday, 17 February 2016
- Daily Fundamental Analysis
EUR/USD Daily Forecast – 18 February
There were no data releases from Eurozone yesterday. Since the Euro is a carry currency, rallies in the equity markets typically drive the single-currency lower. It is also considered a lower-yielding currency. During the current “risk-on” market, investors are demanding higher-yielding assets.Earlier in the session, the EUR/USD received some support after Boston Federal Reserve president Eric S. Rosengren talked about the need for a gradual approach to raising interest rates. “We have seen oil prices decline and global stock indices become more volatile, and more generally a lack of inflationary pressures and the presence of global headwinds that make future economic growth somewhat more uncertain,” Rosengren said in his prepared remarks.
Read more...- Wednesday, 17 February 2016
- Daily Technical Analysis
EUR/USD Daily Forecast – 18 February
Euro was initially pushed higher the course of the Tuesday's session, but found area around 1.1180 handle to be resistive enough once again, in order for pair to pullback in the US part of the session all the way to 1.11 handle after FOMC Meeting Minutes. As for tomorrow, we can expect some amount of support around 1.1050 handle, previous resistance and 1.10 level in extension, while area around 1.12 handle, should offer some amount of resistance.
Read more...- Tuesday, 16 February 2016
- Daily Fundamental Analysis
EUR/USD Daily Forecast – 17 February
From Eurozone, yesterday, ZEW Economic Sentiment figures were released. The ZEW Indicator of Economic Sentiment for Germany has declined for the second consecutive time in February 2016. The index has decreased by 9.2 points compared to the previous month, now standing at 1.0 points (long-term average: 24.6 points). Analysts were anticipating decline to 0.1."The looming slowdown of the world economy and the uncertain consequences of the falling oil price put a strain on the ZEW Indicator of Economic Sentiment. In view of these developments, the concern over an increased credit default risk has already caused stock and bond prices for many banks in Europe, Japan and the US to slump," says Professor Sascha Steffen, head of the "International Finance and Financial Management" Research Department at ZEW. Read more...
- Tuesday, 16 February 2016
- Daily Technical Analysis
EUR/USD Daily Forecast – 17 February
Euro was initially pushed higher the course of the Tuesday's session, but found area around 1.12 handle to be resistive enough, in order for pair to pullback in the US part of the session. As for tomorrow, we believe that US figures and FOMC Meeting Minutes will bring some volatility to the markets. We can expect some amount of support around 1.11 handle, previous resistance and 1.1050 level in extension, while area above 1.12 handle, and 1.1250 handle in extension should offer some amount of resistance.
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