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  1. #1
    Legendry Member milos's Avatar

    Single European Currency !!!

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    Euro remained higher against the dollar after the release of weak data on US durable goods orders. Investors are still uncertainties about the Fed’s future actions related to monetary policy.

    Euro rose against the dollar after announcement that the consumer climate in Germany recorded growth during the last month. In addition to the German consumer climate good results were achieved in Italy.

    Currency pair EURUSD trades recorded during the previous peak at 1.35200 and it consolidated at 1.35. The pair was likely to find support at 1.33400 and resistance at 1.35700.

    The single currency was lower against the pound. EURGBP fell to 0.84.EURCHF dropped to 1.22900 and EURJPY fell to 133.20.

    The euro strengthened against the Canadian, Australian and New Zealand dollars. EURCAD rose to 1.39. EURAUD rose to 1.44 and EURNZD rose to 1.637.

  2. #2
    Specialist Member RCox's Avatar
    OK, thanks for posting the news. The real question is whether or not the EUR/USD should be above 1.35. This is obliviously a significant psychological level and it does take a major move from investors to continue adding long positions once these areas have been breached. Durable goods is not a real driver for these types of moves, as its a highly volatile indicator that is much more indicative of microeconomic trends. Currency markets need real macro data in order to justify real trends. The US is a big country, lots of people buying refrigerators and washing machines at random times.
    Last edited by RCox; 09-25-2013 at 10:34 PM.

  3. #3
    Legendry Member milos's Avatar
    Yesterday Euro during rose against the dollar on signs of recovery of the regional economy. The common currency rose against most of the counter currency after it was announced that the consumer climate index in Germany rose more than economists' expectations.

    Germany as the largest economy in the euro area in recent years achieved good economic results which significantly supports the common currency. In the U.S., sales of new homes rose 7.9% in the previous month.

    Investors are waiting for the publication of U.S. GDP for the second quarter later in the day, as the recent series of economic reports
    highlighted concerns about the prospects for economic recovery U.S. Markets are waiting for data on U.S. economic growth is due to speculation about the future of the Federal Reserve stimulus programs.

    Key levels
    1.357 resistance
    1.355 resistance
    1.352 resistance
    1.349 last
    1.345 support
    1.342 support
    1.338 support

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