EUR/USD Moves Down Again

December 22, 2014

Last Friday the world’s financial markets closed mixed. In Europe, the FTSE 100 advanced 1.23 percent up to 6,545.27 points, the DAX 30 fell 0.25 percent closing at 9,778.90 points, and the CAC 40 shed 0.18 percent down to 4,241.65 points.

On the Russian equity market, the MICEX index dropped 1.9 percent down to 1,449.13 points whereas the RTS index grew 0.41 percent up to 768.06 points.

In the United States, the Dow Jones Industrial Average added 0.15 percent closing at 17,804.80 points, the Standard & Poor's 500 grew 0.46 percent up to 2,070.65 points, and the NASDAQ Composite gained 0.36 percent going up to 4,765.38 points.

The MYMEX price of WTI oil futures for January rose by $2.41 and made $56.52 a barrel. On London’s ICE, the price of Brent oil futures for February went up by $2.11 and finished trading at $61.38 a barrel.

On the Forex market, EUR/USD is going down. Now it’s at the bottom boundary of the weekly triangle. As the scale is quite large, it’s hard to pinpoint the level at which the pair may break out of the triangle or rebound from the support. Thus, it would make sense just to watch the pair’s movements for some time.

Anna Gorenkova, NordFX Analyst

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