International Trading
FXstreet.com (Buenos Aires) – After finding an intraday bottom at 1.2780, Euro recovered part of the strong loses posted this week, and consolidates at 1.2860 price zone. Wall Street despite some intraday gains remains negative with DJIA down 41 pints and S&P losing 0.47%, limiting further recoveries as risk aversion environment continues to weight in the common currency.
According to Nick Nasad from CMS Forex, today’s weaker euro zone data (industrial production printed a 0.1% fall past month) along with Greek economy contracting another 1.5% in the 2nd quarter of the year, “hurt sentiment during European trading, causing the Euro (and Pound) to slide against the greenback”. He also adds, that “this week continues with volatile trading in the currency markets as investors continue to digest incoming news about the world’s main economies and shift expectations about global growth”, anticipating further doubts for the last day of the week.
EUR/USD (Aug 14 at 06:46 GMT)
H 1.27585 L 1.27495
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.2715 | 1.2747 | 1.2778 | 1.2792 | 1.2824 | 1.2856 |
| [?]Trend Index | [?]OB/OS Index |
| Strongly Bullish | Neutral |
| Data updated on Aug 13 at 18:45 (15-minute timeframe) |
