Stay 
Trading Conditions
Products
Tools
IMPACT ON THE EURO-
The focus has shifted to today's major key event TLTRO result. In yesterday's French data again, it was disappointed we expected an uptick. French industrial output fell in October as the production of energy, agricultural and food products declined on the month, official data showed . Industrial production in the Euro zone's second largest economy fell 0.8% in October compared with September, the national statistics agency Insee said. On the jobs data it was also disappointed . In Q3 2014, payroll employment in principally market sectors decreased sharply by 0.3% q-o-q (-55,200 jobs), after a slight increase in the previous quarter as per agency Insee.
IMPACT ON THE USD-
Today the focus has shifted to retail sales, core retail sales and unemployment data. The Chinese concern supported the demand for the Yen, pushed the US dollar lower against most of the currencies.
TECHNCIAL VIEW
The pair rose strongly at the previous session and managed to close above 20Dsma. The pair closed at the highest level at the previous session. Yesterday, we recommended buying above 1.2400 with the targets at 1.2450, 1.2500, and 1.2530. Today, the pair made a high at 1.2450. We are still waiting patiently for the next targets higher. The pair has resistance at 1.2456, above this it can challenge 1.2500 and 1.2507. In case if the prices break out above 1.2507, it can extend its challenge towards 1.2525 and 1.2531. This bullish view is only for the near term. Today's US data can affect the pair. The support level exists at 1.2450, 1.2425, and 1.2400. We recommend selling below 1.2395 with the targets at 1.2360, 1.2340, and 1.2300. The longer-term picture still favour to the bears.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
