EUR/USD Approaches Key Level

December 3, 2014

Yesterday world stock markets closed mainly on the up whereas oil prices dropped. Most of European equity finished trading on the rise in anticipation of the introduction of new economic stimulus measures by the ECB at its meeting this Thursday. Thus, the French CAC 40 grew 0.25 percent up to 4,388.30 points, and the British FTSE 100 advanced 1.29 percent up to 6,742.10 points. As for the German DAX 30, it shed 0.3 percent going down to 9,934.08 points.

On the Russian floors, the MICEX index grew 0.3 percent up to 1,583.12 points while the dollar-based RTS index plunged 3.43 percent down to 925.43 points.

US equity went up thanks to positive corporate reports and reached new highs. The Dow Jones Industrial Average grew 0.58 percent up to 17,879.55 points, the Standard & Poor's 500 gained 0.64 percent up to 2,066.55 points, and the NASDAQ Composite added 0.6 percent finishing the trading session at 4,755.81 points.

On the NYMEX, the price of the WTI oil future fell by $2.12 down to $66.88 a barrel. The ICE price of the Brent oil future dropped by $2 and made $70.54 a barrel.

Yesterday on the global Forex market, EUR/USD went down but still didn’t break out of the correction range. Today, the pair is going down again, having breached the bottom boundary of the correction corridor. If the fall continues, the next target for the pair will be 1.22, which is the bottom line of the weekly triangle the pair has been forming since 2008.

Anna Gorenkova, NordFX Analyst

Publication source
NordFX information  NordFX reviews

October 26, 2016
Greenback is powered by Fed rate expectations
On Wednesday, the US dollar was backed by hopes that American interest rates will edge up by the year-end. It stood flat during Asia trade, just below a nine-month high reached overnight, while the Australian dollar earned as inflation data doused the probability of a rate drop there...
October 26, 2016
Rising rate hike odds push Dollar
The Greenback extended its rally to a nine-month high against other major peers against the rising bets of a FED tightening in December. As rumors are circling the next US leader saying that they will shift the stimulus burden from FED via changes in the fiscal policy...
October 26, 2016
Gold futures edged higher on Tuesday
The XAU/USD pair traded flat on Tuesday. The price remained between 1270 and 1260 dollars per ounce during the day. Gold prices struggled to find support around 1260. Sellers failed to break the level and the yellow metal bounced upwards and recovered to the upper boundary of the range...

HYCM Rating
Vantage FX Rating
FIBO Group Rating
Grand Capital Rating
FBS Rating
Orbex Rating

Banc De Binary Rating
Empire Option Rating
TropicalTrade Rating
Grand Option Rating
Anyoption Rating
365BinaryOption Rating