EU Morning Report - EURUSD back above 1.30

  • Rate this Story
  • 0
  • 0

By NikolasX | November 30, 2012 6:53 PM EST

Easy Forex

 

The euro (EUR) is rising against most of its major counterparts, as risk sentiment improves. Yesterday, President Obama shared his optimism that a deal with Congress may be achieved by Christmas. On Wednesday the EU Commission President Barroso talked about the 17 eurozone countries to be allowed to integrate quicker and more deeply than the 27 countries euro area at large. This came one day after the eurogroup meeting reached an agreement on Greece.

 

§ The euro (EUR) is now trading above 1.30 against the US dollar (USD). This is the 4th time the single currency is trying this move in the past 5 trading days, however this time it has recorded a monthly high at 1.3027.

§ OIL rebounded off its 87.00 US dollars (USD) a barrel support level and now trades just below the 88.00 figure. A break above that level could pave the way for higher highs.

§ GOLD (XAU) is rising for a second day after it had dropped from 1741.44 to 1705.63 on Wednesday; a lower low but managed to rebound and now trades above 1728 US dollars (USD) an ounce.

§ The US dollar (USD) rose against the Japanese yen (JPY) and now lies above the 82.00 psychological level. It will be interesting to see whether the pair can rise above the 82.60 resistance today, the last trading day of the month.

Stay in tune throughout the day with foreign exchange bullets!

 

Outlook.PivotPreference1Sentiment2
.EURUSD1.2915LONG @ 1.291538% of deals buy EUR
.USDJPY81.90LONG @ 81.9039% of deals buy USD
.GBPUSD1.5990LONG @ 1.599038% of deals buy GBP
.AUDUSD1.0420LONG @ 1.042035% of deals buy AUD
.GOLD1730SHORT @ 173069% of deals buy GOLD
.OIL86.90SHORT @ 86.9083% of deals buy OIL
1 data generated by Trading Central, 2 data obtained from easy-forex Inside Viewer
.
CalendarCurrencyTime (GMT)EventForecast
.EUR10:00Unemployment Rate in October11.7%
.CAD13:30GDP m/m in December0.1%
.USD13:30Consumer Spending m/m in November0.1%
.
Movers Shakers
XAUUSD
Gold (XAU) broke through above the 1728 resistance level against the US dollar (USD), today early in the EU session. Market participants should monitor the price action of the precious metal around that level as it may present great opportunities for long risk/reward trades.
.
Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. In no way is it a recommendation by easy-forex® for you to engage in any trade. The information provided is based on data generated by third party investment research providers. easy-forex® does not assume any liability as to the accuracy of such information. This information shall be used for reference only and it is not binding on easy-forex®. This is not an advertisement or a recommendation in engaging / binding you in any forex transactions.

 

  • Rate this Story
  • 0
  • 0
For more forex information, go to www.easy-forex.com

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.