Forex Zone (Forex Zone)
Czech markets  |  November 22, 2012 09:45:09

Angela again Hasil


Yesterday night and day schizofrení risky assets was not what we would consider an effective market. After an overnight sell-off, which was a response to the announcement that eurozone finance ministers failed to agree to the release of financial assistance to Greece, came this morning a quick turnover and relatively rapid strengthening, which lasted until the end of the European session.

When market rapidly weaken and are then typically moved to the side for a while and then tested in sales. It did not happen yesterday. Relatively soon after the opening of markets in Europe began with the most risky assets to grow rapidly.

Its merit lies also had German Chancellor Merkel, who said that the agreement on the release of financial aid to Greece is still possible next Monday, when the finance ministers meet again. Tonight risky assets further strengthened when it was published flash PMI index in China from HSBC. It is the 13 month maximum (50.4). We'll see how long this lasts appetite for risk.

As regards developments inthe monitored pair EUR / USD, so he followed the developments described above. When night fall came down to price support around 1.2740, which we warned on Tuesday. Then came the strengthening, but the market remained resistance around 1.2830, for which we also pointed out on Tuesday. Tonight price tested the above. We perceive great potential for high test of 7 11th 2012th Above this objective, we see significant resistance around 1.2890. We also work with the scenario that the price will want to test the 1.2770 area around the route yesterday quickly "passed through" to the movement below and above the movement.

Currently (8:22) pair EUR / USD traded at 1.2853 price. Below this level we see significant supports of about 1.2830 and about 1.2800.

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