Latest News 10-02-2016 by FXFINPRO Capital
09.02.2016 - Euro continues to rise after overcoming 1.1200
Price of euro has overcome the resistance level at 1.1200 after rebounded from the level of 1.1100. In case of resumption of negative dynamics, quotations will reach an inclined support line, and then the fall may continue with targets at 1.0985 and 1.0800. Current growth may continue in the near future and the price will reach 1.1400. Our medium-term outlook remains negative and we do not rule out the growth in the near future.
Forex and CFD
09.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD renewed growth and reached the resistance level at 1.1200 after corrected down to 1.1100. In case of overcoming the level of 1.1200, quotations will continue to rise up to 1.1400. In case of resumption of decline the price again will reach the levels 1,1080-1,1100 and sloping support line. Fixing the price below these levels will be the basis for the continuation of negative dynamics to 1.0800 and 1.0700. We forecast a drop in the medium term, but do not rule out further growth in the near future.
Nearest resistance levels: 1.1200, 1.1350, 1.1450, 1.1500, 1.1750
Nearest support levels: 1.1080, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550, 1.0500
09.02.2016 - Falling stock markets supported the interest to the yen
Currency trading and the euro. The price of euro resumed growth at the beginning of the week against the background of its use as a funding currency amid falling oil prices and US indexes. It is worth noting that the weak data on the index of investor confidence in the euro area, which fell to 6.0 in February, against 9.6 in January, could not significantly affect the mood of investors. Today, it is worth paying attention to the data on the trade balance in Germany (07:00 GMT), the index of optimism in the US small business (11:00 GMT) and wholesale inventories in the US (15:00 GMT). Markets await the Fed chairwoman speeches in Congress tomorrow and on Thursday. Rhetoric of Janet Yellen may significantly affect the course of trading. Our medium-term outlook remains negative, but we do not exclude the continuation of growth in the near future.