Forex Zone (Forex Zone)
Czech markets  |  September 13, 2012 09:56:06

Will QE, not QE - is the question of today


As of today, a lot is expected. FOMC meeting ends. Will be published at 18.30 in interest rates in the U.S. and also the minutes of the FOMC meeting. There already, we should know the answer to the question whether Bernanke et al. lost their discernment and print billions more dollars pumped into the system. At 20:15 there will be a press conference Bernanke. However, if the FOMC minutes will be clear that another round of QE will not start now, so no comment Bernanke has sent markets higher.
For now, let's not forget the announcement of macro dataof the U.S. labor market in 14:30, which can bring great volatility.

Yesterday, the world learned decision by the German Constitutional Court, which gave the bailout fund ESM practically green, but with the given constraints, how much money Germany may fund up to a paste. A little reality into the insert in his television appearances German Finance Minister Schaeuble, who said among other things that the ECB has no mandate to fund States and the ESM can not have a banking license. It will be interesting if leaked some important schisms between Eurozone finance ministers at the summit, which begins tomorrow.

As regards developments in the monitored pair EUR / USD, so yesterday after the publication of the judgment of the German Constitutional Court showed rapid price fluctuations below to Reviews Support around 1.2820, to which we announced and which created a low day. It also occurred to test the Asian session low, which we also pointed out. This sharp decline in shoppers took advantage of that in our view, to enter the market very aggressively. Then, the price quickly rose to the level around 1.2940, for which we also pointedand near which is formed of a high. Price closed above the 200 day moving average, a bullish sign.

During today's Asian session again tested the price above. Current short-term and medium-term uptrend market is still respected. We expect today for the announcement of the first macro data at 14:30 quieter trading. After the publication of these macrodata expect peace until 18:30. What happens when God only knows (and perhaps Barack Obama). We expect significant movement, but we do not know which side. More we tend to side short. But if the Fed announces QE 3, and within a few weeks, EUR / USD strengthened to 1.3500.

Currently the pair EUR / USD traded at 1.2915 price. Above this value we see significant resistance around 1.2960 and about 1.3000. Below the current market price of the perceived major supports of around 1.2860 and about 1.2830 and 1.2790.

Read also:

Germany, the Fund and the constitutional court




Read also:

August 15, 2018Wall Street se dnešní den vůbec nepovedl Patria (Patria Finance)
October 27, 2017Není QE jako QE Research (Česká spořitelna)
September 08, 2016ECB: Dnešní zasedání - souhrn možností úprav QE Vladimír Urbánek (Kurzy.cz)
January 09, 2015Zlato dnešním dnem dává stop poklesu ceny předešlých dvou dnů ABEVA CONSULTING (ABEVA CONSULTING)

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