2012-07-20 17:22:00
1. Current trend of EUR/USD
At the Forex currency market trading volume in the pair EUR/USD remains low. Trades for the Unified European currency continues in the narrow range of 1.221 -1.2317. Large number of buying orders is in the range of 1.2320 -1.2330, which make this level attractive for opening long positions.
2. Fundamental data
It became known today that German Bundestag members approved the aid for Spain. The sum of the anti-crisis package will amount to 100 billion euro. A significant portion of these funds will be transferred to support banking sector of Spain. According to anti-crisis regulations to improve situation in the country, Spain should reduce budget deficit to 6.3% of GDP this year, to 4.5% next year which is unfeasible task for the government amid fiscal problems and slowdown in the manufacturing sector. It also became known yesterday, that the bond yield has exceeded 7% as investors are still very pessimistic.
3. Important levels (Support and Resistance)
Key resistance levels are: 1.2296, 1.2327 and 1.2357.
Key support levels are: 1.2205, 1.2174 and 1.2144.
4. Best entry/exit points
Currently, the best target for buying is the levels of 1.2320 -1.2325 with protective order around 1.2295.
At the Forex currency market trading volume in the pair EUR/USD remains low. Trades for the Unified European currency continues in the narrow range of 1.221 -1.2317. Large number of buying orders is in the range of 1.2320 -1.2330, which make this level attractive for opening long positions.
2. Fundamental data
It became known today that German Bundestag members approved the aid for Spain. The sum of the anti-crisis package will amount to 100 billion euro. A significant portion of these funds will be transferred to support banking sector of Spain. According to anti-crisis regulations to improve situation in the country, Spain should reduce budget deficit to 6.3% of GDP this year, to 4.5% next year which is unfeasible task for the government amid fiscal problems and slowdown in the manufacturing sector. It also became known yesterday, that the bond yield has exceeded 7% as investors are still very pessimistic.
3. Important levels (Support and Resistance)
Key resistance levels are: 1.2296, 1.2327 and 1.2357.
Key support levels are: 1.2205, 1.2174 and 1.2144.
4. Best entry/exit points
Currently, the best target for buying is the levels of 1.2320 -1.2325 with protective order around 1.2295.
