Forex Zone (Forex Zone)
Czech markets  |  November 15, 2012 07:43:32

Expect further Fed purchases


The event, which was yesterday clearly the biggest impact on markets, the FOMC minutes were published in the U.S.. The fact is that U.S. stocks of this publication does not react dramatically. Euro but responded significantly. More about that later.

The minutes show that some participants suggested that further asset purchases would be appropriate next year, after the end of the current operation Twist, in order to achieve a significant improvement in the labor market.Some expressed their concerns before buying such a large amount of assets with regard to possible complications, which will end monetary support and withdrawal from the market by the Fed. Do we take a portion of the real estate market, where some participants perceive barriers to rapid improvement and in a large number of pending applications for mortgages and restrictions on the providers of mortgages.

As regards developments in the monitored pair EUR / USD, so that yesterday tested as high as yesterday's Asian session high Monday's session, which we announced. The whole day was evident pressure to push the price of the above, but on both resistance that we have offered has been excellent opportunities for short term trades.Following the publication of the FOMC minutes we witnessed rapid test prices to resistance around 1.2775 area, where vendors responded and in our view quite aggressively entered the market.

Today's Asian session, after the initial sale to the evolving and currently (7:28) price "fights" on resistance around 1.2745. Today at 14:30 the market again reach a larger number of macro news from the U.S. and the evening will also Ben Bernanke. These events can bring volatility. Short-term uptrend in the market there, but yesterday's strong input dealers convince us that the price was significantly higher test today. Following the publication of the macro messages will be wiser.

Above the current market price (1.2745) remains in force resistance around 1.2775 and about 1.2830. Below the current market price of the perceived major supports of around 1.2700 and about 1.2670.

Read also:

Low rates in the U.S. until 2016



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