Forex Zone (Forex Zone)
Czech markets  |  October 30, 2012 09:55:26

The U.S. must first recover


Hurricane Sandy has not officially, but on the east coast of the U.S. left behind a decent trigger. Because it has a direct impact on the Manhattan and the entire world's financial district will be about time to clean before they return to the standard operating mode. Equity markets remain closed for today. Commodities will be traded electronically. Hopefully, they also fall out electricity.

Pleasing news came from China. We recently informed you about the so-called flash China PMI from HSBC workshop. Reuters has done his own research and it shows that the activity in factories accelerated in October, the most in five months. 14 analysts expect that China's PMI index in October gets to 50.3.
If so be, risky assets could, after several weekly downtrend get growth appetite.

As regards developments in the monitored pair EUR / USD, so that yesterday traded very quietly. Support around 1.2900, which we pointed out, "hold" the market several times during the day.Given that the major markets in the United States have been closed, so the price traded in a narrow range and at low volumes.

Currently (8:48) price tests above. Due to the fact that the market lacks trading volume, so for today we tend to develop more to the side. Practically apply our yesterday's preview. We see potential for test Friday high. Above we see around the 1.2970 major resistance. We see also a great chance to test today's Asian session low and thus test Reviews Support around 1.2900. We tend to support that this has already been tested several times and is now a candidate rather puncture and then the price will test the super Reviews Support around 1.2840.

Read also:

Sandy closes exchanges in the U.S.





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