|
|
Back to the Forex Alerts day's list
Alert - 09:30 (CET) - EurUsd
|
WIth the stocks in Asia and Europe starting with the right foot, the Euro is doing the same against the Dollar. The fact that the interbank lending rates in Asia are declining brings tranquility to the credit markets, triggering an appetite for high yielders.
From the macroeconomical field, the EurUsd will be keeping an eye on the today's results from the manufacturing sector PMI from Germany and the Eurozone. If the sector show a contraction bigger than expected, the Euro could become more pressured. This Thursday, the European Central Bank will cut rates by, at least, 25bp, to stimulate the economy and the credit markets.
Meanwhile, from the US, the major will be responding to what happens to the manufacturing sector and the construction spending. These data will be key to evaluate how battered the first economy is, as October was one of the worst months of its history. Depending on how bad these data are, one could speculate about cuts in the interest rates by the Fed.
The EurUsd is trading at 1.2792, ranging from 1.2722 to 1.2898. The current price is over yesterday's close at 1.2726. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
As the supports at 1.2500 (key), 1.2324 (January 2006 high) and 1.2000 (key). The resistance at 1.2733 (October 23rd high) was broken, so the traders are watching the next at 1.3000 (key) and 1.3353 (October 21st high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 40 points, rebounding from the overbought area. The average volatility per hour is 460 pips. Going with the daily graphics, we see that the current price is under the 38.20% (1.3063) and over the 50.00% (1.2141) Fibonacci retracement lines.
|
|
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.
|
| |
|
|
| |
| |
|