Eur/usd - page 189
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The EURUSD tried to rally to the upside, but fell rather hard and closed well below the 1.25 level near the low of the day. The resistance at 1.2577 is holding and as a result sellers step into this pair every time it rallies.
The market is eventually going down to the 1.2050 region, therefore the rallies are simple selling opportunities as the US dollar should continue to be one of the safest currency around the world in the moment.
European car sales grew at a faster pace in October, a monthly report released by the European Automobile Manufacturers Association showed Tuesday.
New passenger car sales increased 6.5 percent in October from last year to 1,072,837 units, faster than the 6.4 percent rise in September. Sales expanded for the fourteenth consecutive month.
Substantial growth was recorded in major markets. Sales surged 26.1 percent in Spain and by 14.2 percent in the U.K. In Italy, car registrations advanced 9.2 percent and gained 3.7 percent in Germany.
Meanwhile, car registrations in France fell 3.8 percent.
During January to October, the EU market for passenger cars climbed 6.1 percent from the same period of last year mainly helped by the significant growth in registrations in Spain and the U.K.
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EUR/USD gains on upbeat German sentiment data
The euro strengthened against the dollar on Tuesday after a widely-watched gauge of German economic sentiment beat expectations.
In U.S. trading, EUR/USD was up 0.68% at 1.2534, up from a session low of 1.2444 and off a high of 1.2540.
The pair was likely to find support at 1.2397, Friday's low, and resistance at 1.2578, Monday' high.
The ZEW Centre for Economic Research reported earlier that its German economic sentiment index rose by 15.1 points to a four-month high of 11.5 this month from October’s reading of -3.6.
Analysts had expected the index to improve by 4.5 points to 0.9 in November.
In addition, the index of euro zone economic sentiment increased to 11.0 in October from 4.1 in September, above expectations for an increase to 4.3, and the better-than-expected data gave the euro a shot in the arm.
The single currency has softened against the dollar in recent sessions as investors prepare for U.S. monetary policy to grow less accommodative while Europe moves in the opposite direction.
European Central Bank President Mario Draghi said on Monday that policymakers will do what it takes to bolster the European economy.
Draghi said "unconventional measures" needed to ensure recovery could involve the purchases of sovereign debt, a monetary policy tool known as quantitative easing that aims to suppress long-term borrowing costs to spur recovery, which weakens paper currencies and boosts stock prices to boost the economy.
The ECB’s current stimulus program includes purchases of asset-backed securities and covered bonds
Tuesday's economic sentiment data eclipsed an uptick in U.S. wholesale prices, mainly as investors snapped up nicely-priced euro positions.
The Commerce Department reported earlier that producer prices inched up by a seasonally adjusted 0.2%, confounding forecasts for a 0.1% decline, after falling 0.1% in September.
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The dollar traded low against the EUR.
Euro began showing strength before the release of the German ZEW survey for November and had an additional stimulus after the release of the numbers.
The big surprise was the rise in the expectations index of -3.6 to +11.5.
Here may result in an upward continuation of the EUR / USD corrective phase.
R3 - 1.26676
R2 - 1.26224
R1 - 1.25350
Daily Std. Pivot - 1.24898
S1 - 1.24024
S2 - 1.23572
S3 - 1.22698
bewayopa | Trading Ideas
Hello Friends,
Today`s my idea EURUSDBuy 1st Target at 1.2572 & Buy 2nd Target (Reversal Price) at 1.2611
The EURUSD rose during the course of yesterday session, clearing the 1.25 level with an impulsive candle. This pair continues to consolidate around the 1.25level. We are looking for reversal candles in order to start selling again as the Euro continues to underperform.
Euro area balance of payments (September 2014)
Current account The current account of the euro area recorded a surplus of €30.0 billion in September 2014 (see Table 1). This reflected surpluses for goods(€20.7 billion), services (€10.4 billion) and primary income (€7.6 billion), which were partly offset by a deficit for secondary income (€8.7 billion). [SUP][2][/SUP]
The 12-month cumulated current account for the period ending in September 2014 recorded a surplus of €245.6 billion (2.5% of euro area GDP), compared with one of €229.7 billion (2.4% of euro area GDP) for the 12 months to August 2014 (see Table 1 and Chart 1). The increase in the current account surplus was due mainly to increases in the surpluses for goods (from €211.5 billion to €217.3 billion) and, to a lesser extent, to increases in the surplus for services (from €92.3 billion to €95.2 billion) and primary income (from €68.0 billion to €71.9 billion), as well as to a decrease in the deficit for secondary income(from €142.0 to €138.8 billion).
Financial account In the financial account (see Table 2), combined direct and portfolio investment recorded net increases of assets of €84 billion and of liabilities of €27 billion in September 2014.
Euro area residents recorded direct investment abroad (assets) of €33 billion, almost evenly split between equity and debt instruments (mostly inter-company loans). Foreign direct investors increased their investments in the euro area (liabilities) by €10 billion, almost entirely by means of debt instruments. As regards portfolio investment assets, euro area residents had net acquisitions of foreign securities of €51 billion, mostly debt securities (€47 billion). On the liability side, non-residents had net acquisitions of euro area securities of €17 billion (net purchases in equity securities of €20 billion partially offset by €3 billion of net sales in debt securities).
The euro area financial derivatives account recorded net flows of €7 billion. Other investment recorded net decreases of €39 billion and €4 billion in assets and liabilities respectively. The net decrease of assets was explained by developments in the MFIs excluding the Eurosystem (€37 billion) and the general government (€4 billion) sectors. The net decrease of liabilities was explained by decreases in the Eurosystem (€3 billion), general government (€3 billion) and other sectors (€14 billion), which were partly offset by an increase in MFIs excluding the Eurosystem (€17 billion).
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EUR/USD holds steady ahead of Fed minutes
The euro held steady to higher against the dollar on Wednesday as investors remained in standby mode ahead of the release of The Federal Reserve's October policy meeting minutes later in the session.
In U.S. trading, EUR/USD was up 0.12% at 1.2548, up from a session low of 1.2512 and off a high of 1.2570.
The pair was likely to find support at 1.2441, Tuesday's low, and resistance at 1.2578, Monday' high.
The euro inched up against the dollar in steady trading as investors remains camped on the sidelines ahead of the release of the Fed minutes, which were expected to highlight the growing monetary policy divergence between the U.S. central bank and its peers in Japan and Europe.
The euro continued to see residual demand from Tuesday's ZEW Centre for Economic Research report revealing that its German economic sentiment index rose by 15.1 points to a four-month high of 11.5 this month from October’s reading of -3.6.
Analysts had expected the index to improve by 4.5 points to 0.9 in November.
In addition, the index of euro zone economic sentiment increased to 11.0 in October from 4.1 in September, above expectations for an increase to 4.3, and the better-than-expected data gave the euro a shot in the arm.
Elsewhere in the U.S. on Wednesday, the U.S. Commerce Department reported earlier that the number of building permits issued last month increased by 4.8% to 1.080 million units from September's revised total of 1.031 million.
Analysts expected building permits to rise by 0.9% to 1.040 million units in October.
The report also showed that U.S. housing starts fell by 2.8% last month to hit 1.009 million units from September’s total of 1.038 million units, compared to expectations for a drop to 1.025 million.
Elsewhere, the euro was down against the pound, with EUR/GBP down 0.13% at 0.8006, and up against the yen, with EUR/JPY up 0.84% at 147.68.
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EUR / USD remains below the moving average of 50 periods and within the training symmetrical triangle.
There have been some attempts to break the short-term trend line, but not enough.
R3 - 1.26782
R2 - 1.26385
R1 - 1.25913
Daily Std. Pivot - 1.25516
S1 - 1.25044
S2 - 1.24647
S3 - 1.24175
as long as we are over 1.2500 My open buy position will still be open targeting 1.2630