Yesterday news background wasn’t very favorable for dollar. IFO report showed growth of moods above expectations, and data on durable goods orders in the U.S.A. disappointed again and showed decline, though most forecasts pointed at increase of this indicator. Still, once again EURUSD pair failed to fix above 1.1000 after publication of these statistics, but chances to make this breakthrough remain high. In Europe eternal saga of Greece continues and it restrains euro’s buyers. However, the topic has left front pages of news, and has no strong influence on market’s dynamic now. Today there are no significant economic events. Trades will be technical, what increases chances for further development of correction phase. Although a small-scale war, which has begun in the Arabian Peninsula, has already influenced energy prices, which went upward dramatically, still, its impact on main currency pairs is minimal.
Today we’ve decided to renew euro’s purchase from 1.0975, stop is at 1.0890. Middle-term aims are at 1.1100 – 1.1120. In case of a pair growth of more than 30 points from the entry point, rearrange stop at the entry point.
Any opinions, advice, news, research, analyses, prices or any other information presented on this webpage is provided as general market commentary and does not constitute investment advice. "Vector Securities" shall not be liable for any loss, including loss of profit, which may arise directly or indirectly from the use of this information.