EUR/USD Continues Trading In The Short Ascending Corridor
Masterforex-V | Nov 27, 2014 05:56AM ET
As can be seen from the four-hour schedule, the currency EUR/USD continues to trade in the short ascending corridor. "The strong bullish momentum ended movement sideways," - said the expert of the Forex Broker Company (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Perhaps, the consolidation will continue, as the technical analysis indicators give neutral signals. We can assume that formed "flag" figure, in this case, a rising quote can reach the resistance line long-term downward trend. The trade will impact the news from the United States - are being published data on orders for durable goods, real estate, and consumer sentiment index.
The main theme of yesterday's European session was to strengthen the US Dollar. The euro rose in early European session after the publication of the index of Germany's gross domestic product for the third quarter, which showed an increase of 0.1 percent after falling 0.2 percent in the second quarter. The market's attention turns to the statement on Thursday European Central Bank President Mario Draghi, followed by the publication of the preliminary index of consumer prices in the euro zone CPI on Friday of this week.
The single currency fell to a session high of 1.2486 to the level of 1.2458 after the release of US GDP data, which showed an increase in the third quarter by 3.9 percent. It was better than expected, as economists had expected growth at 3.3 percent. These data can improve market expectations of interest rate hikes by the Federal Reserve in mid-2015. Today, the euro area is expected publication of important macroeconomic data. Across America will block important news, namely the index of orders for durable goods, new home sales index, the number of applications for unemployment benefits.
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