Euro is firm at current levels

1 December, 2017

Today in the first half of the European session, USD dollar traded somewhat stronger. Yesterday's sharp increase in yields on US bonds led to a significant USD dollar gain against the Japanese yen. Recently USD / JPY currency pair reached the local minimum near JPY 111.00.  Today the pair continues its growth and is already trading in the level of 112.35. The pair tested a significant level of JPY112.40, but failed to fix above these levels and pulled back below.

At the beginning of the trading day, the European currency was under pressure. Eur / Usd pair was trading at 1.1800, in the local support area. In European trading, the pair rushed higher, however, failed to overcome yesterday's maximum near 1.1880. Today's news background in Europe has been rich. The expected decline in unemployment in Germany was -18 thousand. In general, unemployment in the eurozone fell to 8.8% from 8.9%. Nevertheless, the market was in expectation of figures on inflation and drew special attention to this data.

The preliminary estimate of the consumer price index in November rose to 1.5% from 1.4%. The data turned out to be less than expected, but the main disappointment was connected with the main CPI. The CPI data did not change and remained at 0.9%. We see that despite the accelerating economic growth in the euro area, inflation continues to lag behind. This is a factor that can weaken bulls pressure on the European currency in the near future. Nevertheless, the European currency is traded steadily, being in the narrow range 1.1820-1.1880. The nearest strong resistance is located at 1.1870-1.1880. We expect that the pair EUR / USD will continue consolidation in the zone 1.1800-1.1880.


Source link  
Positive market sentiment persists

On Tuesday, US markets continued to gain, after a positive start of the trading week on Monday. It is characteristic that on the positive sentiment...

Equity markets continue to decline

The last two trading days are marked by negative market dynamics, as equity indices are under pressure. On Wednesday, Europe was under pressure...

Asian equity indexes mixed

Asian indexes were mixed on Thursday following a soft close in Wall Street following a widely anticipated tax reform approval by Congress...


Mixed sentiment takes on in Asia

Asia markets were mixed on Monday, following a strong lead from Wall Street last week as market players looked ahead to fresh economic data, while...

Gold reversed some losses

The softer tone in the US Dollar allowed gold prices to reverse some losses. Buyers broke the upper limit of the selling channel and almost...

Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...


Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...

Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...


In the past 24 hours Bitcoin has gained 2.45% and reached $4584.54249295. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.4212% and is now at $1.1374. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -30.86% and is now at $137.454726289. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM86%
4Alfa-ForexAlfa-Forex85%
5FxProFxPro84%
6FIBO GroupFIBO Group83%
7OctaFXOctaFX82%
8HotForexHotForex80%
9FXCMFXCM78%
10AvaTradeAvaTrade76%
  


Share: