Main » 2012 » January » 13 » Express forex signals for EUR / USD 13/01/2012
12:09 Express forex signals for EUR / USD 13/01/2012 | |
| The EUR / USD traded higher today after the growth observed on Thursday after the auctions in Italy and Spain were in great demand, the European Central Bank left interest rates unchanged. ECB president Mario Draghi also pointed out that business activity in the region has stabilized, and the ECB was ready if necessary to further easing in monetary policy. Although attitudes towards the euro was positive today, market participants expect the majority still see the results of another auction on placement of bonds in Italy. In general, have yet to understand whether the observed growth of the euro on Thursday against the major currencies only "unsuccessful attempt" or the euro might really be further strengthened its position in the coming weeks. Much will now depend on how quickly disappear from the news are all too familiar phrases as / downgrade the credit rating / debt problems spread and rising bond yields. In my opinion, a pause in the program to reduce interest rates provoked a rise in the euro by 1% against the U.S. dollar on Thursday as the European single currency was brief respite after the sales, as a result of which it recently dropped to 16 - month low. Governing Council of the ECB left the refinancing rate unchanged at 1% level. This is expected by most analysts. ECB President Draghi warned that the balance of risks to the economy of currency bloc was still biased to the downside, and this can cause the central bank to resume its efforts to prevent a recession in the Eurozone in crisis. Arguments in favor of the continued weakness of the euro are certainly compelling. The ECB will likely further unconventional measures to ease the shortage of liquidity in the euro area, and again lower interest rates. In this situation need to be careful to open short positions, as tensions in the euro fell slightly, which can lead to quite a strong movement in the market. I recommend buying the euro market or after the breakdown and fixing up an hour above the resistance level at 1.2878, in order to increase the resistance level at 1.2939 and below in the event of breakdown to 1.3000, stop better place at 1.2795. Short positions can be opened in case of breakdown on the basis of hours of support at 1.2756, to improve to the support at 1.2695 and then in case of breakdown by the level of 1.2634, stop better place at 1.2762.  Alex Sedyshev, a portal "Forex Analysis" - signals, forecasts | |
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