§ The GER30 (DAX) has been moving above its Moving Average since early December 2012 and looks set to take advantage of the positive news released around the euro (EUR) as Germany is Europe’s biggest exporter. Currently the index trades at 7700 and has sufficient support at 7565.
§ West Texas Intermediate (OIL) has found resistance at 94.60 and a correction is possible in today’s trading. Looking ahead, this afternoon, the US will release its Crude Oil Inventories. A rise, more than expected, could indicate oversupply.
§ An interesting pair to watch could be the euro (EUR) versus the Australian dollar (AUD). The pair has been on roller coaster ride since December, while it failed to reach a higher high when it stopped around 1.270, it now looks unwilling to move below 1.258.
Stay in tune throughout the day with foreign exchange bullets!
|.||EURUSD||1.3335||LONG @ 1.3335||33% of deals buy EUR|
|.||USDJPY||88.85||SHORT @ 88.85
||47% of deals buy USD|
|.||GBPUSD||1.6105||SHORT @ 1.6105||44% of deals buy GBP|
|.||AUDUSD||1.0575||SHORT @ 1.0575||22% of deals buy AUD|
|.||GOLD||1663||LONG @ 1663||57% of deals buy GOLD|
|.||OIL||94.45||LONG @ 94.45
||36% of deals buy OIL|
|.||EUR||10:00||Consumer Price Index (y/y)
|.||USD||13:30||Core Consumer Price Index (y/y)
|.||OIL||15:30||US Crude Oil Inventories
The euro (EUR) has been moving higher against the Swiss franc (CHF) since last week amid reports that Swiss investors are looking to invest more of their money overseas. The franc has reached levels it last visited in October 2011 but found resistance yesterday at 1.24. Looking at the technicals, we should expect a correction by the end of the week.
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