Analyst Yuriy Zaitsev

Hello, dear friends!

It will publish my forecasts and signals on currency pairs.



EUR/USD

Overall the fundamental situation of the Euro is unenviable. Of the most significant events this week, first of all mention
data on quarterly GDP of the US, on Tuesday, they came out almost a disaster: 2% (annualized) vs PREV 2.5% forecast no change. The next day came the index of purchasing managers in the manufacturing sector Eurozone PMI Manufacturing by 0.7 points in October (vs 46,4 47,1). Data on new industrial orders in the Eurozone came out worse than forecast at the level of the -6,4% in October (forecast -2,7%) and year on year at 1.6% as against 5.9% the previous value.

on Wednesday also came out negative data for China: the index of purchasing managers in November was 48 points against the October 50 points. Mutual negative Europe and China nothing good for the Euro promises.

Rating agencies were active again:
Fitch said that rising French government debt and economic recession threaten the highest sovereign credit rating (AAA), Fitch cuts Portugal's rating by one notch from BBB - to BB+, maintaining the negative Outlook. Standard & Poor's threatened to cut Japan's rating, the debt which amounted to 13 trillion $, or 220% of GDP. While the country is saved by the fact that holders of Japanese debt are local investors.

Also Wednesday, Germany has had a failed auction on placement of 10-year bonds. Finding no buyers, the Bundesbank was forced to buy 40% of 6 billion issue.

So, the expected continuation of decrease in pair.



From a technical point of view also there has been a steady downward trend. Targets marked on the daily and four-hour charts.








 
EUR/USD

Goal No. 1, noted in Friday's review, the market has reached. Current geo suggests about its closing and moving to a new local minimum.

A brief look at the fundamental situation.

10-year Italy bond yield is at a level of 7.36%. The yield on 10-year Spanish bonds is 6.71%. That is, they have reached a level which began with the Greek panic. To save the market can only be a third round of quantitative easing the fed because the ECB continues to be indecisive (especially the market hoping for the redemption of government bonds). The beginning of QE3 according to the leaders of the fed (Bernanke, Dudley, Tarullo), was supposed to begin in November, but the good U.S. macroeconomic statistics helped to postpone the beginning of it. If there is nothing in the fed's plans will not change, it will be foreclosure of mortgage securities. The next fed meeting is scheduled for December 13, but not necessarily at the same time and will be announced QE3; published November 30, Beige book – economic survey of the fed, and depending on the commentary of the officials, it will be possible to make further predictions.

Today the expected fall of the Euro: technically it is anticipated the closing of the gap and the fundamental reason is the decline in sales in the primary housing market of the United States with 5.7% in September to -1% Oct.

Goal # 2 reduce the Euro to the support channel.







 
GBP/USD

In the UK today is expected to further decline in the index of retail sales (CBI ): -11% to -12%.

Technically on the daily chart, the pound is committed to the testing of dual-band rays Fibonacci from the top to the bottom yellow circle yellow (1.5353). However, according to rumors, the Bank of England, the pound buys. If this is true, then the CBI can come out false. The basis for the purchase of pound can serve as insider information about the upcoming beginning of the fed's quantitative easing (QE3).



an Attachment 176187




On the four-hour chart MACD indicates a reversal, the price at the moment from the middle line of the Bollinger bands with the parameters 21-2, breaking through of which with an aspiration to the upper boundary of the channel it is possible even without closing the gap, that is the price you have to pass 80 points. But before closing the morning gap of about 60 points. Maybe today will be a test 138,2% level of Fibonacci (1.5412) with a rebound.





 
EUR/USD

Due to the gap in the opening week of the Euro yesterday has grown by 150 points. This excitement is due to the false information of the Italian newspaper La Stampa on the allocation of credit in Italy 600 billion Euro International monetary Fund. Soon this IMF denied the rumor, but until the evening, investors remained in a good mood. Supported him and the good statistics from the USA: Manufacturing index Midwest (Chicago) in October showed growth: +0.7% m/m; +7.3 percent yoy, sales in the primary housing market showed over the October increase of 1.3%. Index Dow Jones has grown by 2.84%.

Yesterday, Moody's said the "rapid escalation" of the debt crisis in Europe poses a threat to all sovereign ratings in the region, credit risks will rise, if not to take measures to stabilize markets in the short term, EU policy will face a fall in confidence, if they don't start to act quickly. The stubbornness of the ECB can actually be understood, because the United States faced a crisis successfully exported to Europe and now they twisted the hands of private rating agencies. On the other hand, if the fed really plans QE-3 to start in December, then it certainly needs to tighten and the ECB. Here and the UK spend on support for the market 20% of its GDP, accuses (in the person of the king) in the deceleration of their growth in Europe.

Technically, the goal 1.2932 not cancelled, but the events greatly reduce the chances of its achievement. The more real it seems the gap's closure is yet another test the 161.8% Fibonacci level (1.3215). And only in the case of the price fixing below this level may be followed by testing a range of Fibonacci extension (1.3123), by analogy with the situation on 22-24 November, marked by a yellow oval. In this case, formed at the MACD convergence confirming the reversal.



 
GBP/USD

The volume index of retail sales in the UK (CBI) for November came out worse than expected: -19 p. p. vs. -11 in October. But all the players ' attention was drawn to events in Europe and the United States: "joke" of the Italian newspaper La Stampa and the growth of the U.S. stock market. As a result, the market has chosen the upward movement without closing the gap. The price is almost worked out the Bollinger bands and settled on the Kruzenshtern line (digital trend indicator in blue). Technically the price is still under pressure and the downside target remains. Also mean the support of the red trendline of a higher TF at the level of 1.5390.

But nevertheless beginning to be felt underlying mechanisms pound growth through the growth of GBP/JPY. This cross yesterday, rose 0.7% for two days from Friday – on 1,21%. On the one hand the GBP/JPY lifts USD/JPY, but actually weakened the yen for six consecutive days, while the pound-yen grows only two. Traditionally, GBP/JPY and EUR/JPY are the market drivers for major pairs. Two days of rapid growth concludes that the buying up of pound, of course, premature, but we have in mind this nuance.

Today, expect some good growth in mortgage lending in October by 0.2 billion pounds.



 
GBP/USD

Yesterday the British pound at the end of the bottom showed the largest increase of in comparison with other majors and pound crosses: 0,58%. But actually the Australian dollar rose even more, by 0.95%, but he has supported strong growth of oil has risen in price in one day by 1.77% (December futures Brent), as well as improving long-term Issuer default rating (IDR) in foreign currency from AA+ to AAA by Fitch. GBP/JPY edged up 0.5%, the same showed GBP/HKD. This would not be anything remarkable if the Japanese yen used to easing all the time in relation to the dollar, but it strengthened (+ 0,1%). It can be assumed that if the yen slightly depreciated, the cross, the pound-yen would rise much higher. In practice, this may mean that short-term "stretching" is using the pound yen is over and now some strategic players (Bank of England) to buy up the pound against the dollar.

Released data on mortgage lending have made some external positive: increase of 1 billion from a surplus of 0.8 billion.

Important news today, no, orientirueshsya on technical analysis.

On the daily chart, the price scale has reached the Fibonacci level and the red trendline. A foothold on them (1.5630) price will have a thorny path to 1.5820 – next resistance at trendline. Strategic goal – a maximum of October 31, 2011 – 1.6165.

On the four hour chart noted the local levels where care should be taken.



 
EUR/USD

At the summit EU-US in Washington, DC (28.11) has prepared a plan to strengthen economic ties between these regions. It includes the creation of jobs and stimulation of economic growth in the United States and in Europe. While announced the results of the meeting were deprived of the greater specifics, but nevertheless investors thought it was a good sign.

But yesterday was the specifics, only by the Finance Ministers of the Eurozone countries. At the meeting they agreed to allocate Greece the sixth tranche of the loan in the amount of EUR 8 billion and Ireland $ 8.5 billion.

Today, unemployment figures are coming out. Change (10.2 percent) is expected. In the evening possible data on the growth of Canada's GDP (consensus +0.3% for the year) that may indirectly support the Euro.

To continue growing the price has to consolidate above the immediate resistance of the descending trend lines purple day scale (1.3361 - he at least September 26). To this fact there is a risk of closure of the gap as the four-hour chart (not to mention daily) the Euro remains under pressure: the price is lower than the book the red the moving average and below the Kruzenshtern line (blue). Also the Marlin oscillator is showing signs of divergence.







 
EUR/USD

The main event yesterday was the statement by the world's Central banks (fed, ECB, Bank of Canada, England, Japan, Switzerland) on new coordinated measures to support the global financial system and agreement about time bilateral swaps for liquidity granting in any currency.

Bank of China reduced the reserve requirements for commercial banks by 50 bps, which is understood as the beginning of the easing monetary policy of the PRC.

The European financial stability Fund (EFSF) was increased to 1 trillion. euros (440 billion).

Also very high, data released by employment growth in the U.S. (ADP Employment Change): 206К against 130К for October and forecast without modifications. Such a high rate with such a weak data on the number of initial claims for unemployment benefits (Jobless claims) (03.11: -9K, 10.11: -10K, 17.11: -5K) is the real fiction. It is known that the statistical service is more than just manipulate exactly the data on employment growth and new jobs (Nonfarm payrolls) with the purpose of influencing the market. By far – yesterday was just such a case that no one had doubts about the solidity of the decisions of Central banks.

As a result, the Dow Jones soared by 4.42%, the pound by 0.68% (p. 107), the Euro has closed with gains of 0.96% (p. 129).

As you can see, yesterday's events were agreed: Europe is finally allocated money, China has created the conditions, the United States secured a PR campaign. For rallied all ready.

If until the 13th of December, the next meeting of the fed, given the market optimism continues, it will not be necessary to hold a third round of quantitative easing in December, it will take for a certain period, will worsen when a new (or forgotten old) problems of the Eurozone and the United States.



Technically, the Euro yesterday reached the Fibonacci extension and formed to support a higher TF. After reversal from it, the price will head to its next target at resistance of a higher TF (1.3580). Near the top yesterday (1.3520) there may be some confusion.



 
GBP/USD

The reason is quite the tumultuous events of yesterday, the pound has flown by 230 points and is now looking for support around 1.5656 – 1.5682.

Thus, our last assumption about the cessation of stretching the pound through the cross-rate GBP/JPY in the light of the events were confirmed.

In case of breaking the level of 1.5656 possible yet to test the lower Fibonacci level of 38.2% (~ 1.5611). Then the price will again go up.

Today, it is a British index of purchasing managers in the manufacturing sector (PMI Manufacturing) with the predicted decrease by 0.4 PP (47 p. vs. p. 47,4 October). Perhaps this factor will affect the dive prices down (this indicator can have a significant impact on the market). But in the evening in the US again expected good data on the reduction of applications for unemployment benefits (390К against 393К last week) and increase the index of business optimism in the manufacturing sector: a 52 vs forecast of 50.8 Oct.



 
EUR/USD

According to statistics published yesterday, in the U.S. the number of initial jobless claims for the week rose to 402 393 thousand thousand versus the previous week and forecast of 390 thousand claims.

According to the revised data, the number of initial claims for the third week of November was 396К, not 393К published data.

For the whole of November Jobless claims totaled 395,75 thousand 0.5 thousand. more than in October(395,25).

Thus, yesterday's data on employment growth do not have a real basis in December, we can see the "corrected" data.

Later, data on applications made nice figures for construction spending for October (0.8% vs. 0.2% September forecast of 0.4%) and the index of industry sentiment for Nov (p. and 52.7 50.8 Oct and forecast of 51.5.). But they could not overcome the doubts of investors, inspired by the contradictory statistics: the Dow Jones closed almost at the opening level of the day, the Euro closed down twenty points higher pound even slightly below the opening.

In the release last night at midnight "Beige book" (Beige Book) report of the Federal reserve banks, nothing intelligible said no, just a statement of the known facts: the weakness of the housing market, the growth of industrial production and the reduction (!) the demand for labor.

Today we publish the number of new jobs created in non – agricultural sectors of the economy- Nonfarm payrolls. Is expected to increase to 120K vs 80K Oct. Bloomberg generally predicts 125K. The forecast for new jobs in the private sector of the economy (Change in Private Payrolls), published simultaneously with Nonfarm payrolls surprising no less "optimistic": 150K vs 104K Oct.

Well, saying "A" (concerning employment growth), the statistical service needs to say "B", that is once more set to push new data to the market for labour, even if a bit below the forecast. In reality, the economy is in need of a new phase of quantitative easing.



Technically, the Euro is forming a triangle trend line support senior (day) TF. The AC is currently carrying on the zero line that specifies a certain share of intrigue: will there be a reversal or not. Based on the evidence of price indicators will be. The goal is the next resistance on daily TF: 1.3580.



 
GBP/USD

The index of purchasing managers in the manufacturing sector for November was at the level of 47,6 47,4 against p. p. October, and the forecast is 47.0 p. nevertheless, The domestic problems of England, primarily held yesterday the national strike of civil servants, which was attended by 2 million people, can not be ignored on the basis of private economic performance. FTSE100 naturally sat down 0.56%, and with him the pair GBP/USD on 13 items (euros rose by 15 points). English currency it takes a very strong positive from the United States. Perhaps he will, after all, is not in vain as the Bank of England is buying the pound in the range of 1.5430 – 1.5550.

Today published the index of business activity in the construction sector: forecast of 52, the value for October is 53.9. Since this index is only a mood of top managers of major construction companies, taking into account the revival in the mortgage market and the improving sentiment in the manufacturing industry, you can expect value and higher than forecast.



Technically, the price slides down under the Fibonacci extension, forming a formation similar to the flag. Added oscillator Ultra_Trend the intersection of the lines signaled the formation of a new local trend. With a break of the Fibonacci, the price will tend to break the next beam. The purpose of 1.5820.



 
EUR/USD

On Friday, the representative of the fed, James Bullard (President, Federal reserve Bank of St. Louis) stated that the data began to emerge stronger than expected, so at the December meeting, the fed launch a third round of quantitative easing makes no sense. The economy should weaken, that QE3 would be justified. Perhaps the United States is seeking large investments in a speculative market from Europe to create some liquidity shortages. The statistics were published good:

Car sales in the U.S. in November showed the highest value in two years: 13.6 million on an annual basis;

Nonfarm payrolls came out at the level of the forecast: 120 thousand new jobs;

Change in Private Payrolls came out slightly below expectations, but strong enough: 140 thousand;

The unemployment rate fell from 9% to 8.6%.

According to European data, the yield on 10-year Italian bonds decreased from 7.36% to 6.55%.

According to the consensus forecast Bloomberg, the ECB meeting on 8 December is expected to decrease rates to 1.0%. To this day it is expected combined statistics as to the States and in the Euro area. Most likely, investors will wager it is the decrease in the interest rate. If it's not lower, it may be a "disappointment". Here it should be borne in mind that in the current environment lowering rates attracts no depreciation of the national currency, as is the case in crisis-free cycle, but rather increase, as the decrease in the interest rate aimed at stimulating the real sector, which more readily credited at a low rate. The growth of stock indexes and drags economic growth.

On the same day, opened the EU summit in Brussels. The Agency "RIA Novosti" with reference to "AFP" reports: "While the European Council is scheduled to close on Friday (9 December) afternoon. But if necessary, he will continue in the weekend. It is absolutely necessary to reach credible agreements. This is necessary for EU and markets, therefore, without such agreements, the summit did not end his work." And taking into account the existing agreements in the banking sector, we can expect other advances, first of all "about the new rules of economic governance in the Euro area" and "more stringent control over budget discipline in the Euro-zone States".

The official version of the fall of the Euro on Friday after a brief uptrend, the closing of long positions opened from Monday to Thursday – fixing a short-term profit. But if you look at the chart, we can see the absence of any of the levels in the pivot point. To the real technical level of 1.3580 and the price has reached 30-35 points. Obviously, there were sell orders-close. That is, there was a banal knocking out stops below 1.3415 level. The indicators also do not show the breaking down. The AC in this situation may turn "normal order" of the negative zone, not from zero line, as expected on Friday.

The goal remains the same.



the Forecast for December: Dec high – 1.3920.



 
GBP/USD

The index of business activity in the construction sector in November, as expected, came in better than forecast: 52,3. But, as in the case of Euro, the market had taken a trip for a stop-loss buyers. This version is confirmed by the fact that the FTSE100 on Friday from the close of Thursday did not fall, and grew to 25 points.

This week it is expected more negative macroeconomic statistics:

05.12 - the Index of sentiment in the service sector: a 50.7 vs 51.3 in October.

07.12 - Industrial production (m/m): -0.3 percent; manufacturing (m/m): -0.2 percent.

US too, nothing bullish for the market is not expected; expected to decline in factory orders, overstocking, and a reduction in consumer lending.

If the ECB rate cut will not bring the expected effect, the Anglo-American banks will have to buy back the Euro and pound against the market. On the one hand is convenient for shopping at good prices, on the other hand, the fed loses incentives to inspire investors (unless, of course, is better forecast). There is only the promise of QE-3. And if not in December, then "train" in January. The fed meets on Tuesday next week 13 Dec.

However, the focus of investors this week will focus on the EU summit, opening Thursday 8 December.



Technically the upward trend is maintained the bottom line of Andrews ' pitchfork (bold blue), although it can and puncturing. In any case, price should not be lower overcome the Fibonacci extension (green dotted line). The first target is 1.5680, the following 1.5795.



 
EUR/USD

The index of business activity in the services USA (ISM index) in November 2011. decreased to 52 points in comparison with the value in October of 2011. at 52.9 points and the forecast of 53.6.

The volume of industrial orders in USA in October 2011. decreased by 0.4% compared with the previous month.

With the release of the U.S. data, the currency pair went down sharply, however, on stock indices they do not have a negative impact.

Late in the evening, the rating Agency Standard & Poor's (S&P) announced the revision of the sovereign credit ratings of 15 Euro zone countries of possible downgrade (Austria, Belgium, Finland, France, Germany, Luxembourg, Netherlands) – these countries can lose the highest rating AAA. On review for further downgrade: Estonia, Ireland, Italy, Malta, Portugal, Slovakia, Slovenia, Spain, Cyprus.

It would seem that now there is no need to escalate the situation, but obviously, such statements are deliberately made on the eve of the EU summit to encourage Europe to take more resolute actions.

Meanwhile, Merkel and Sarkozy have "cernovog" agreed changes to the European Convention in the financial part (the greater independence of the ECB, IMF financing for the formation of another Foundation, the rejection of the devaluation of the single currency, etc.), the Italian government announced new austerity measures at 30 million euros.

Today at 14:00 (MSK) GDP in the Eurozone, the forecast of 0.2% QoQ and 1.4% yoy.

Technically, the drop stopped at the support trend line of Kruzenshtern. Oscillators form the convergence. The trend and goal remain with a slight adjustment: overcoming 1.3443 opens the second target 1.3590.



 
GBP/USD

On the negative data on U.S. factory orders, the pound has lost more than 50 points, punctures the support of the pitchfork, and continues to decline to this point. Opening day has occurred under the forks.

Also on all timeframes, from a day to thirty indicators show a downward trend. So to resume buying may not be informed back the price to the Andrews ' pitchfork (1.5665). If today's return is not followed, the entry point into the market will be reviewed. A possible test of 1.5600 with subsequent growth.

Important news for England and the United States today is not, markets will focus on European data and events.

It is also possible to achieve the 38.2% Fibonacci level (1.5557), in this case the graphical tool "Fibonacci Fan" will be deleted. In this case, purchases will be possible above 1.5600 – 50% Fibonacci level. In any case, you should wait for the transition leading oscillators Marlin or even faster CoeffofLine_mod in positive zone.



 
EUR/USD

Rating agencies have run amok. Yesterday, S&P placed the long-term credit rating of the European financial stability Fund (EFSF), in the list on review for possible downgrade.

And if the currency pair is slightly polihoradilo markets still showed exemplary resilience and in the evening went to future growth.

The head of the club of Euro zone Finance Ministers Jean-Claude Juncker called the action unjustified and politicized Agency. In Europe believe that the reforms will strengthen fiscal and economic policy. Indeed, only with the crisis of the European Union finally began a serious effort to integrate.

Macroeconomic data for Europe a good go:

First estimate of Eurozone GDP for the 3rd quarter came on the forecasted level of 0.2% QoQ and 1.4% yoy.

Some Eurozone countries showed the following results: French GDP of 0.4% QoQ, Germany's GDP: a 0.5% QoQ, Austrian GDP of 0.3% q/q, GDP of Finland: 0.9% the previous quarter.

Showed decline: Portugal: – 0,4% QoQ, the Netherlands: – 0,3%.

Industrial orders in Germany rose in October by 5.2% in October and 2% for the year. The forecast was 1.0% for the month and 1.9% for the year.

This means that if there is no strong shocks from the US or China, Europe is quite able to dampen the acute phase of the crisis, and then gradually get out of it.

Not to say that the US put Europe spoke in the wheel, a little bit bothering...



Yesterday, after the "exchange of courtesies" between the rating agencies and the representatives of the Eurozone, the price went to the first target. In the moment before she left at least 30 points. After the price fixates above it, opens the target 1.3590: oscillators and AC CoeffofLine_mod moved to the positive zone. At the target level takes profit.



 
GBP/USD

In the UK today are expected to be negative data: the decline in industrial production (Industrial Production) of -0.3% m/m and manufacturing production (Manufacturing Production) of -0.3% m/m.

Yesterday the British government took the decision to increase from 2026 the retirement age to 67 years (and if people is sad to hear, that the financial markets this news can support). Finance Minister George Osborne said that the plans to implement a plan of cost savings, as the external debt of England is quite high. Also said that need to more closely monitor events in Europe, and you should accept events as they are.

If today's Eurozone and the USA are good news, the pound will increase, if negative, the fall ahead.



In connection with the achievement of the 38.2% Fibonacci retracement and the formation of a new low, the schedule is reviewed. New down goals is not generated, the purchase is possible only after the price overcomes the level 1.5620.

1.5845 medium-term goal, intermediate goal (or the goal for today) 1.5717. Magnetic point 1.5910 (yellow circle, although I doubt it).



 
EUR/USD

Yesterday, the Greek Parliament passed a very tough budget for the 2012-th year, which supported the market.

Today the ECB takes a decision on a possible rate decrease by 0.25% from the current rate of 1.25% to 1.0%. Reduce bets the markets are ready, and as already mentioned, in the current situation it can hold the Euro as a rate reduction to stimulate growth in production. In Brussels, EU summit. The first day will be devoted to the problems of exit from the European crisis. Tomorrow decisions will be made on strengthening economic integration, the signing of the Treaty of accession to the EU of Croatia, addressed the issue of accession to the Schengen area Bulgaria and Romania.

The us rating Agency Standard & Poor's placed the rating now only the European Union on review for a possible downgrade and said that "hopes to complete" the revision after the EU summit. More than a hint of fat. However, the efforts of the United States are quite clear; the five largest U.S. banks in loans and bonds of Europe have invested 72 billion euros, total investments of us banks amount to 180 billion euros. And they go bankrupt it does not.



Yesterday's trading session has activated a new Fibonacci grid branch 25-29 November (marked in red) were tested the 61.8% level, confirming the activity level 138,2% achieved 30.11.

Goal for today – 1.3530.



 
GBP/USD

UK data came out much worse than forecast. Industrial production fell by -0,7% in the quarter versus zero growth for the previous period and 0.3% in the forecast. Manufacturing production fell by -0.7% vs. 0.2 percent in the second quarter and -0.3% forecast. As a result the pound rose to 100 points is unclear, especially as the Euro fell. Banal redemption currency against the news of the Bank of England is a little similar. If so, then the plans of the Eurozone summit, which opens today, is known to the Bank and they are very bright. Here we should note an important caveat: yesterday the Prime Minister of England David Cameron said he will veto changes to the EU Treaty, if the exit from the crisis will not take place without the leadership of London to the financial centres of Frankfurt and Paris. This means that London wants to continue to monitor European policy of mergers and acquisitions, bond market and foreign exchange transactions. It is known that the Bank of England acting in concert with the fed, this means that the EU is now unable to resist US pressure and, consequently, England.

Today, the decision at the rate of the Bank of England. To change the existing rate of 0.5% is assumed.



On the daily chart scale the price fixated above the trend line krusen, staying between her and the 50% Fibonacci level. The MACD is steadily rising. The next target is determined by the coincidence of three lines: the 61.8% retracement level, resistance to the red trendline and the red balance indicator lines – 1.5822. Upward movement is possible only after the price level of 1.5717-20.







 
EUR/USD

As expected, the ECB lowered its interest rate to 1.0%. However, contrary to expectations, the Euro has not grown, but fell more than 100 points. But the crash occurred on all markets: the Dow Jones grew almost continuously for two weeks, even in spite of a record decline for the last nine months of jobless claims (381K versus 402K for the previous week and forecast 396K) fell 2%, German DAX30 fell by 4%, oil decreased by 2.1%, gold lost 2.1%, copper up 2.1%. Primchatsya the same magnitude of decline in prices of 2.1%. Perhaps it was the departure of investors from contracts in the money, that is closing of positions. Obviously, they will be taken on Monday, when will be known the outcome of the EU summit. I have no doubt that agreements will be reached and Monday (max Tuesday) technically formed signals to purchase. While no such signals. The price has to consolidate above 1.3380, that is, above the Kruzenshtern line and the nearest downward trend line (red). Today signals as up and down is unlikely to be formed.

However, if the market's aim is to dislodge the foot mid-level player, it is possible to achieve the lower support trendline of the higher time frame – 1.3230, and closes the gap on November 28.

Expected publication trade balances of Germany and the United States in October. Germany is projected to decrease by 1.7 billion euros (14 billion vs. 15.7 billion September), according to the U.S. increase of 43.5 billion. against 43,11 billion in September. The sentiment index according to the University of Michigan in December, better than expected 1.7 points (65,8 against 64.1).

Once again, that the market is in the area of free wandering and movement can be very different.



 
Сверху