Forex Zone (Forex Zone)
Czech markets  |  December 05, 2012 09:53:03

Support for Merkel

Christian Democrats (CDU) in Germany supported a clear majority (97.9%) of the current party boss, Angela Merkel, who will fight for the third election of Chancellor. Superiority with which Merkel received support, the highest since 1975, when Helmut Kohl won the support of over 99%. Merkel after the election, said: "We live in turbulent times, and sometimes we are in stormy waters. German CDU but has a clear direction which way to navigate our country in these troubled waters. "

As regards developments in the monitored pair EUR / USD, so he continued to strengthen yesterday. Although the current price movement is perceived as an unhealthy amount of (euro rose in 13 of the last 16 sessions), so we have to accept the fact that shoppers are still the dominant force. Although we have already seen several sellers to enter the market, so they were able to price "knock" below for a short time.

This afternoon will be published important macro data from the U.S., but the main thing, in terms of news, tomorrow and Friday. We will be very curious as to whether the published macro data support the current uptrend, which is really strong and the absence of significant corrections in it worries us.

Below the current market price (1.3112), we see many goals that have a great chance to test. The nearest of these is the low current Asian session low yesterday and then the Asian session. The question to consider now is whether the current move is to test the high from mid-September. The only significant resistance below this level is high around 1.3150. Below the current market price is much support. The closest and most perceive about 1.3090 and about 1.3040.

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