Eur/usd - page 110
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Will EURUSD test 1.35? Options defense + focus on weak EUR crosses (rather than vs the USD) keeping it above this level and weighing on the USD elsewhere. See my Daily Forex Trading Outlook. Forex Trading Outlook for June 11, 2014 - YouTube
An important level to watch on EURUSD is the 1.35 handle! If price breaks it to the down side we could see it going as far as 1.3476 or even 1.34 handle.
i agree if the price break the support line we are going to see a huge breakdown but i doubt that it will break it.keep rebounding from 1.3520 keeps the rebound still a big option
German wholesale prices in May 2014: –0.9% on May 2013
As reported by the Federal Statistical Office (Destatis), the selling prices in wholesale trade decreased by 0.9% in May 2014 from the corresponding month of the preceding year. In April 2014 and in March 2014 the annual rates of change were –1.3% and –1.7%, respectively. From April 2014 to May 2014 the index fell by 0.1%.
Euro zone industrial production rises 0.8% in April
Industrial production in the euro zone rose more than expected in April, easing concerns over the outlook for economic growth in the single currency bloc, official data showed on Thursday.
In a report, Eurostat, the European statistics agency said industrial production increased by a seasonally adjusted 0.8% in April, above forecasts for a 0.4% gain.
Industrial production in March was revised down to a decline of 0.4% from a previously reported drop of 0.3%.
Year-on-year, industrial production rose at an annualized rate of 1.4% in April from a year earlier, beating expectations for a 0.9% gain and after rising at a rate of 0.2% in the preceding month.
Following the release of that data, the euro held on to losses against the U.S. dollar, with EUR/USD easing down 0.02% to trade at 1.3528.
Meanwhile, European stock markets were mixed. The Euro Stoxx 50 picked up 0.1%, France’s CAC 40 tacked on 0.2%, Germany's DAXadvanced 0.1%, while London’s FTSE 100 dipped 0.1%.
source
Goldman: What Now For Our EUR/USD Call One Week After The ECB
Ahead of last week's ECB meeting, Goldman Sachs had highlighted the event as an important catalyst for EUR downside.
Then, a day after the ECB meeting, GS argued that the rebound in EUR on a significant easing package from the ECB was puzzling and did not make sense.
Today, GS is out with another note discussing its bearish EUR/USD call with almost one week after the ECB meeting. Specifically, GS addresses two main pushbacks to EUR/USD lower in the market.
The first is that the ECB does not take the challenge of low inflation as seriously as it should, in part because its communication on the subject is a bit mixed.
"We have sympathy for the view that the ECB’s communication could be clearer on the subject of inflation and – in a sense – President Draghi’s comments during the press conference interrupted a move lower in EUR/$ that in our minds was headed for 1.33. 3. At the same time, we think it is important to focus on the big picture, which is that the ECB is continuing to ease and – in President Draghi’s words – is not yet done easing. This divergence in monetary policy is a clear case for EUR/$ downside, regardless of whether communication could be better," GS argues.
The second pushback is that portfolio inflows into the Euro area could pick up as a result of credit easing, preventing meaningful EUR downside.
"We find European bonds to be expensive and therefore from a valuation perspective, further persistent inflows into Euro area’s fixed income markets may not materialize. Forecasting portfolio flows is fraught with difficulty, but given the strength of foreign appetite for European assets in the past two years and expensive bond valuations, it is not clear that a sustainable acceleration of foreign buying of European assets is likely as a result of the recent ECB decision," GS adds.
All in all, what's now for EUR/USD?
"Our model for EUR/$ continues to target a level of 1.33 on the basis of the 5-year rate differential, while our model for EUR/GBP targets a level between 0.70 – 0.76, depending on whether we use the 2- or 5-year differential. In either case, there is plenty of room for EUR downside on a tactical basis and rate differentials move against the Euro....Our 12-month forecast remains at 1.30," GS projects.
source
EURUSD is stuck in a 100 pip range between 1.35 and 1.36, so the recommendation is to short @ 1.36 and buy @ 1.35.
price is still stuck at 1.3520 the strong support line break indicators stochastic and RSI show oversold on all time frames
[TABLE]
[/TABLE]
EU hopes for 'fair' US action in French bank case
The European Union hopes the United States will be "fair" in its treatment of BNP Paribas over the French bank's alleged US sanctions violations, a senior EU official said Thursday.
The EU's internal market and services commissioner, Michel Barnier, said that Brussels was following developments in the US case against France's largest bank, which reportedly might have to pay at least $10 billion in fines to resolve the accusations.
"Given the importance of this case and the importance of this bank... we are closely following the situation and we simply wish that this affair be handled in a proportionate, fair and objective manner," Barnier said at a news conference in Washington.
The bank is accused of breaking sanctions against Iran, Sudan and Cuba between 2002 and 2009 by carrying out dollar transactions with them, but such cases are usually the subject of negotiations with US judicial officials.
In addition to the huge fines, BNP may have to suspend dollar transactions in the US, according to US media.
Barnier, asked about the impact of a massive settlement on the European financial system, said he was unable to evaluate "potential effects" while the terms of the a settlement were still unknown.
The case is a hot-button issue with the French government. French President Francois Hollande has raised the matter several times with US President Barack Obama.
Obama, however, has made it clear he would not interfere in the judicial process because that would violate the independence of the US judiciary.
France also has said that the possibility of what it sees as disproportionate penalties could hurt ongoing negotiations on a vast free-trade pact between the 28-member EU and the US.
read more
finally some movement on the price of EURUSD stabilizing over resistance @ 1.3555 can push the price to 1.36 levels