Eur/usd - page 208
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The EUR / USD continues to trade on a strong downward trend to reach minimum of nine years with expectations that the ECB implement new measures to stimulate the economy later this January.
The EUR / USD opened with a gap below 1.2000, after a survey giving the far-left party Syriza leadership of 3.1% over the conservatives currently in power.
The elections are scheduled for January 25.
R3 - 1.21422
R2 - 1.21422
R1 - 1.20720
Daily Std. Pivot - 1.20360
S1 - 1.19658
S2 - 1.19298
S3 - 1.18596
thanks to the German inflation rate we might even see lower levels
French consumer confidence continues to recover
French consumer confidence continued to rise for the second consecutive month in December and inflation expectations fell, statistics showed Tuesday.
Confidence measured by Insee rose to 90 in December, the highest level since June 2012, from 88 in November.
The rebound in confidence was driven by an improvement in consumers' assessment of their finances, Insee said. Households polled by the national statistics bureau also said their standard of living improved again in December from November, even though concerns about unemployment increased.
The survey also showed fewer French consumers expect prices to increase. The level of inflation expectations measured by Insee is now at its lowest since February 2010, and the proportion of households that think prices have risen strongly is at its lowest level since 1999.
Eurozone final Dec. composite PMI at 51.4 vs. flash estimate 51.7
Eurozone final Dec. composite PMI at 51.4 vs. flash estimate 51.7
Euro zone economy ended 2014 in poor shape: PMI
The euro zone economy ended 2014 with its worst quarter for over a year as further price cutting failed to significantly drive up business activity, adding pressure on the European Central Bank to act, surveys showed.
Also of concern to policymakers, the surveys highlighted an ongoing downturn in France and Italy and only a stuttering performance in Germany, Europe's largest economy.
"The weakness of the PMI in December will add to calls for more aggressive central bank stimulus, including full-scale quantitative easing, to be undertaken as soon as possible," said Chris Williamson, chief economist at survey compiler Markit.
Markit's final December Composite Purchasing Managers' Index (PMI), based on surveys of thousands of companies across the region and seen as a good indicator of growth, missed an earlier flash reading of 51.7, coming in at 51.4.
While beating November's 16-month low of 51.1 and marking the 18th month the index has been above the 50 level that separates growth from contraction, Williamson said the indicator pointed to fourth quarter GDP growth of just 0.1 percent.
"The euro zone will look upon 2014 as a year in which recession was avoided by the narrowest of margins, but the weakness of the survey data suggests there's no guarantee that a renewed downturn will not be seen in 2015," Williamson said.
Last week, ECB President Mario Draghi fanned expectations he would take bolder steps when the Governing Council meets on Jan. 22, saying the central bank stood ready to respond to the risk of deflation.
Risks of a deflationary spiral - consumer price data for the euro zone due on Wednesday is widely expected to show a fall in annual terms - will push the ECB to buy sovereign debt early in 2015, a December Reuters poll showed.
A composite PMI sub-index showed firms have been cutting prices for nearly three years. It came in at 48.1, up from November's 47.6.
read more
two hammers on the daily chart I hope time of correction is here I will wait for a confirmation candle before opening a position
It’s a new year in the west and the Internet is rained on by “2015 predictions” of all sorts.
Mr. Euro is Dripping
No that wasn’t a spelling mistake for “dropping”. The EUR/USD pair is dripping. Literally. If you take a look at the pair on the daily forex dance floor, you’ll notice that the pair may have remain under the influence of the New Year drunken parties and has been opening with a massive gap at the beginning of each trading day after New Year’s Eve- Just like drops of alcohol.
Currently the pair has successfully reached the low levels of 2010 and a break below this key support level at 1.1880 could open doors for even more drops… some analysts are predicting a 1.000 level.That’s one euro for one dollar! I guess it’s time to finally plan my trip to Europe.
EURUSD broke 1.2000 level a sweet support, it will fall further down.
The EUR / USD moved slightly lower, after hitting the resistance of 1.1975, but then recovered to trade virtually unchanged.
Short term momentum indicators detect a slowdown in the downward movement by a corrective movement for high is possible.
The RSI sank into oversold territory, went up and now appears to be able to get out of extreme field.
The MACD also and will probably cross above the signal line.
R3 - 1.20300
R2 - 1.19992
R1 - 1.19453
Daily Std. Pivot - 1.19145
S1 - 1.18606
S2 - 1.18298
S3 - 1.17759
EURUSD fell making a new multi-year low at 1.1846 during yesterday session and settled at 1.18728. We might see the pair in a choppy sideways action between now and nonfarm payroll numbers on Friday.