The euro (EUR) is rising across the board against most of its major counterparts, as the eurogroup meeting reached an agreement on Greece. The eurozone finance ministers consented after 13 hours of negotiations to lower the interest rates on bilateral loans to the debt-ridden nation, while interest payments due to the European Financial Stability Fund (EFSF) will be postponed by 10 years. Additionally, the maturity of the loans increased to 30 from 15 years.
The Australian dollar (AUD) is strengthening versus most of its counterparts. The same is true for the British pound (GBP) ahead of the 3rd quarter Gross Domestic Product (GDP) release.
The euro (EUR) recorded a monthly high at 1.3008 versus the US dollar (USD) overnight following the news that a deal on Greece has been achieved.
The Canadian dollar (CAD) has pierced through below 0.9920 against the US dollar (USD) early in the EU session. This is a minor breakout and a break-and-hold below 0.9910 is needed for lower lows to be recorded.
GER 30 (DAX) opened 25 points higher this morning on the back of the Eurogroup agreement. The index now lies above 7335, a 3-week high.
Stay in tune throughout the day with foreign exchange bullets!
OUTLOOK◘
Pivot
Preference1
Sentiment2
EURUSD
1.2940
LONG @ 1.2950
§ 36% of deals buy EUR
USDJPY
81.90
LONG @ 81.90
§ 47% of deals buy USD
GBPUSD
1.6000
LONG @ 1.6010
§ 37% of deals buy GBP
AUDUSD
1.0454
LONG @ 1.0454
§ 33% of deals buy AUD
GOLD
1735
LONG @ 1735
§ 54% of deals buy GOLD
OIL
87.40
LONG @ 87.40
§ 67% of deals buy OIL
US 500
1392
LONG @ 1392
§ 31% of deals buy US 500
UK 100
5850
SHORT @ 5850
§ 74% of deals buy UK 100
CALENDAR◘
Currency
Time (GMT)
Event
Forecast
GBP
09:30
3rd quarter GDP
1.0%
USD
13:30
Durable Goods Orders in October
-0.6%
USD
14:00
Case Shiller 20 m/m in September
0.4%
USD
15:00
Consumer Confidence
73.1
MOVERS◘SHAKERS
US Tech
US Tech (NDQ) carried on its days-old rebound off the multi-month low recorded two weeks ago, when it temporarily pierced below the 2500 support level. The US technology equities index has risen to 2649.13, a 6% appreciation since. It still looks bullish early in the EU session today; however minor retracements should be expected.
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Forex trading involves substantial risk of loss, and may not be suitable for everyone.
The euro (EUR) is rising across the board against most of its major counterparts, as the eurogroup meeting reached an agreement on Greece. The eurozone finance ministers consented after 13 hours of negotiations to lower the interest rates on bilateral loans to the debt-ridden nation, while interest payments due to the European Financial Stability Fund (EFSF) will be postponed by 10 years. Additionally, the maturity of the loans increased to 30 from 15 years.
The Australian dollar (AUD) is strengthening versus most of its counterparts. The same is true for the British pound (GBP) ahead of the 3rd quarter Gross Domestic Product (GDP) release.
The euro (EUR) recorded a monthly high at 1.3008 versus the US dollar (USD) overnight following the news that a deal on Greece has been achieved.
The Canadian dollar (CAD) has pierced through below 0.9920 against the US dollar (USD) early in the EU session. This is a minor breakout and a break-and-hold below 0.9910 is needed for lower lows to be recorded.
GER 30 (DAX) opened 25 points higher this morning on the back of the Eurogroup agreement. The index now lies above 7335, a 3-week high.
Stay in tune throughout the day with foreign exchange bullets!
OUTLOOK◘
Pivot
Preference1
Sentiment2
EURUSD
1.2940
LONG @ 1.2950
§ 36% of deals buy EUR
USDJPY
81.90
LONG @ 81.90
§ 47% of deals buy USD
GBPUSD
1.6000
LONG @ 1.6010
§ 37% of deals buy GBP
AUDUSD
1.0454
LONG @ 1.0454
§ 33% of deals buy AUD
GOLD
1735
LONG @ 1735
§ 54% of deals buy GOLD
OIL
87.40
LONG @ 87.40
§ 67% of deals buy OIL
US 500
1392
LONG @ 1392
§ 31% of deals buy US 500
UK 100
5850
SHORT @ 5850
§ 74% of deals buy UK 100
CALENDAR◘
Currency
Time (GMT)
Event
Forecast
GBP
09:30
3rd quarter GDP
1.0%
USD
13:30
Durable Goods Orders in October
-0.6%
USD
14:00
Case Shiller 20 m/m in September
0.4%
USD
15:00
Consumer Confidence
73.1
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
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