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EURUSD trading lower after strong employment data from the United States.

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  • EURUSD trading lower after strong employment data from the United States.

    EURUSD dropped on Friday and closed at 1.2831. The United States dollar strengthened after better than expected employment data from the US raised the speculation that the Federal Reserve may lower its monetary stimulus. The Non-farm Payrolls in the United States increased by 195K jobs in June. In the Eurozone the factory orders in Germany dropped 1.3 percent in June. The European Central Bank Executive Board member Benoit Coeure stated that the economy in the Eurozone should stabilize this year. Standard & Poor’s downgraded the sovereign credit rating of Portugal from “Stable” to “Negative”. Over the weekend EU and Greek officials stated that Greece is likely to reach a deal with its international creditors on Monday to unlock the further 8.1 billion Euro from the aid package. Investors are now awaiting the outcome of the Eurogroup Meetings taking place today. Support for the EURUSD is seen at 1.2809 and resistance is seen at 1.2923. The HotForex Traders Board shows that 67 percent of the traders are long on the EURUSD.



    - See more at: http://blog.hotforex.com/eurusd-trading-lower-after-strong-employment/#sthash.XglJvnlc.dpuf

  • #2
    EURUSD rose yesterday after Greece secured 6.8 billion Euro bailout from the Troika

    EURUSD rose yesterday and closed at 1.2868. The Greek government secured 6.8 billion Euro bailout from the Troika following an agreement for further public payroll cuts. The European Union economic and monetary affairs commissioner Olli Rehn warned that the country needs to boost the momentum on reform. The Bundesbank Chief Jens Weidmann stated that the European Central Bank cannot solve the Euro areas debt crisis on its own and has urged the national governments to adopt reforms and tighten its fiscal rules. The Trade Balance in Germany shrank to a reading of 14.1B in May. The German Industrial Production month over month dropped -1.0 percent in May. During his speech yesterday the President of the European Central Bank Mario Draghi stated that the central bank’s stance to maintain accommodative monetary policy in the near future. Support for the EURUSD is seen at 1.2809 and resistance is seen at 1.2923. The HotForex Traders Board shows that 60 percent of the traders are long on the EURUSD.



    GBPUSD

    The Cable rose yesterday and closed at 1.4949. The Manufacturing Production month over month in the United Kingdom dropped -0.8 percent in May. Following the release the pair dropped sharply and its currently trading around the 1.4880 level. Support for the GBPUSD is seen at 1.4855 and resistance is seen at 1.4989. The HotForex Traders Board shows that 77 percent of the traders are long on the GBPUSD.



    - See more at: http://blog.hotforex.com/eurusd-rose-yesterday-after-greece-secured-6-8-billion-euro-bailout-from-the-troika/#sthash.PATilGft.dpuf

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    • #3
      EURUSD trading near the 2012 low ahead of the FOMC Meeting Minutes

      EURUSD dropped yesterday and closed at 1.2779. The ratings agency Standard & Poor’s lowered Italy’s sovereign credit rating to ‘BBB’from‘BBB-plus with negative outlook. The member of the European Central Bank Governing Council Joerg Asmussen stated that the central bank would maintain low interest rates for an “extended period” extended beyond 12 months. The International Monetary Fund lowered its forecast for the global economic growth from 3.3 percent to 3.1 percent for 2013 and also cut its forecast for 2014 from 4.0 percent to 3.8 percent. IMF also indicated that the recession in the Eurozone would most probably deepen. On the other hand the European Finance Ministers approved Latvia’s application to become the 18th country to use the Euro. The new coins and euro bills will be issue in Latvia on the 1st of January 2014. Investors are now awaiting the FOMC Meeting Minutes due later today. This combined with the speech of Chairman of the US Federal Reserve Ben Bernanke and the 10 year bond auction due from the United States can bring high volatility on the market and investors should be aware of it. Support for the EURUSD is seen at 1.2767 and resistance is seen at 1.2897. The HotForex Traders Board shows that 60 percent of the traders are long on the EURUSD.



      - See more at: http://blog.hotforex.com/eurusd-trading-near-the-2012-low-ahead-of-the-fomc-meeting-minutes-and-the-speech-of-ben-bernanke/#sthash.Z92Gig5Q.dpuf

      Comment


      • #4
        EURUSD trading near the 1.33 mark at the start of the week. Pending Home Sales data due from the United States.


        EURUSD rose on Friday and closed at 1.3277. Officials from the Eurozone approved the transfer of 4 billion Euro of funding to Greece. The import price index data from Germany dropped more than the market expectation in June. In the United States the Final Consumer Sentiment rose to a reading of 84.1 in July reaching its six year high level. Investors are now awaiting the Pending Home Sales month over month data due from the United States later today. Support for the EURUSD is seen at 1.3235 and resistance is seen at 1.3293. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.



        GBPUSD

        The Cable dropped on Friday and closed at 1.5380. A report released today showed that the Net Lending to Individuals month over month came out close to the market expectations at 1.5 billion Sterling in June. Investors are now awaiting the CBI Realized Sales due from the United Kingdom later today. Support for the GBPUSD is seen at 1.5322 and resistance is seen at 1.5415. The HotForex Traders Board shows that the long on the short positions on the GBPUSD of the clients are even.



        - See more at:http://blog.hotforex.com/eurusd-trading-near-the-1-33-mark-at-the-start-of-the-week/

        Comment


        • #5
          think should wait for sometime before going for the pair...................

          Comment

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