Forex Zone (Forex Zone)
Czech markets  |  October 25, 2012 10:01:49

No news from the Fed

Yesterday morning in Europe was a bit annoying because sale after publication macro data from Germany. This fall, but the market after the opening of the American session deleted that then fell back, and waited for the evening virtually FED. Bernanke said nothing new and we have selected a few key moments:

  • Real estate sector shows more signs of improvement
  • Household spending progressing a little faster
  • Rates exceptionally low at least until mid-2015
  • Operation Twist will continue until the end of the year
  • There is still a significant risk of an economic downturn

As regards developments in the monitored pair EUR / USD, So that when yesterday morning pick easily passed around 1.2940 support, and to our surprise did not go up to 1.2900. With this decline, but created a minor bullish divergence, and those who bet on it, while profits.

Currently (8:43) we are close to resistance around 1.3020, above which is a good target around 1.3045. Another important target is around 1.3100, but before it is resistance around 1.3050. Announced yesterday, the Fed still perceive outnumbered shoppers. In the afternoon, we expect macro news from the U.S., so we'll see if shoppers keep their superiority, and the market is up to 1.3100 as we expect a few days and note.

We see also the potential for low test today's Asian session, but the current predominance of buyers, this test does not necessarily come today. Anyway, you will hear more about him. Below the current market price (1.2998), we see major supports of around 1.2960 and about 1.2930 and 1.2890.

Last news from the section Czech markets:

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