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

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

HotForex Rating
XTB Rating
FOREX.com Rating
Vantage FX Rating
Orbex Rating
Larson&Holz IT Ltd Rating

Banc De Binary Rating
Anyoption Rating
TropicalTrade Rating
OptionFair Rating
24option Rating
EZTrader Rating