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25 Apr 2013
Forex: EUR/USD fall from 1.3094 high reaches 1.3050
FXstreet.com (Barcelona) - The EUR/USD extended its gains to its weekly highs and printed a new one at 1.3094 ahead of the US pre-market, failing to reach the 1.3000 psychological level. From there, profit taking ahead of the NY opening pulled the pair to 1.3050.
US initial jobless claims eased from 355K to 339K in the week ending at April 19, below the 351K consensus. Continuing claims also pleased investors with a drop from 3.093M to 3.000M, instead of coming in a 3.060M.
German Chancellor Merkel wants that bank shareholders can also suffer losses in the future and said the government rejects common European deposit insurance, for now. Also, she said that higher interest rates would be better for Germany. Finland grand committee head said the Euro would survive in case Cyprus leaves and rejects euro-area fiscal transfers. IMF’s Lipton and PIMCO’s Amey suggested more ECB easing.
“The EUR/USD currency pair is still being corrected towards the previous descending wave; it has already reached the level of 1.3060”, wrote Roboforex.com analyst Igor Sayadov. “We think, today the price may form another descending structure to reach the level of 1.2940 or even lower, 1.2880. Later, in our opinion, the pair may start forming a new ascending wave towards the target at 1.3200”, he added.
US initial jobless claims eased from 355K to 339K in the week ending at April 19, below the 351K consensus. Continuing claims also pleased investors with a drop from 3.093M to 3.000M, instead of coming in a 3.060M.
German Chancellor Merkel wants that bank shareholders can also suffer losses in the future and said the government rejects common European deposit insurance, for now. Also, she said that higher interest rates would be better for Germany. Finland grand committee head said the Euro would survive in case Cyprus leaves and rejects euro-area fiscal transfers. IMF’s Lipton and PIMCO’s Amey suggested more ECB easing.
“The EUR/USD currency pair is still being corrected towards the previous descending wave; it has already reached the level of 1.3060”, wrote Roboforex.com analyst Igor Sayadov. “We think, today the price may form another descending structure to reach the level of 1.2940 or even lower, 1.2880. Later, in our opinion, the pair may start forming a new ascending wave towards the target at 1.3200”, he added.