Euro consolidates At 11 Monthy High. The euro traded in a consolidation mode against the U.S. dollar at a rate to maintain 1.3450. With the hectic action of choppy trading today with the Euro traded in the range of 50 pips between 1.3420 and 1.3475, where the Euro closed the trading session at 1.3450, 0.12% below the opening price. For the short term, the euro will face support at 1.3425 (Jan. 28 low) followed by .13352 (MA-10 days) and then will move to 1.3349 (Jan. 25 low). To the contrary movement, penetration into the 1.3480 (high January 25) will open up opportunities to 1.3487 (February 24, 2012 high), then 1.3491 target rate (50% retracement of the decline from 2011 to 2012).
After reaching 11-month high at 1.3478 last Friday, the Euro entered a phase of consolidation on Monday, and even though the hourly chart shows the movement of a neutral, long-term indicators are still showing a bullish signal. Penetration into the 1.3480/85 (high 25Januari / 2012) will open the door for a continuation towards 1.3500 area, while just under 1.3390, bearish pressure will probably increase, hold and resume bullish correction phase / consolidation.
Stocks Amid Stronger U.S. Economic Data Mixed
U.S. stocks traded near the highest level in five years on Monday after data on pending home sales fell last month, while Caterpillar Inc.. record profits and bookings for durable goods rose in December. Market recently strengthened in a row, the main trigger for the decline. "Gauge has climbed eight straight days TURT, this can not go on forever," said Dan Greenhaus, an analyst at BTIG LLC, in commenting on the strengthening of the longest in the S & P 500 in more than eight years. Grennhaus added that he would be happy if a "slight decline between 5% to 7%," he said that the weakness might be "given the fiscal problems that will be set in the spring", referring to the debate over the issue of budget cuts that will begin 1 March.
Gold slips ahead of Fed meeting
Gold fell on Monday as investors were cautious ahead of a U.S. Federal Reserve meeting, which should reveal more details of the Fed's policy of quantitative easing. "Refrain market is ahead of the U.S. Federal Reserve meeting, and expect any comments on quantitative easing measures more further, "said Frederic Panizzutti, head of marketing at MKS Finance." Day trading is fairly quiet, with gold players monitor the movements of EUR / USD, saw many indications of what will happen in the next few days, "he added.
Durable Goods Data Fly Oil
Oil prices rose to their highest level in four months after the Commerce Department said durable goods orders figures rose by 4.6% in December. Gasoline prices rose to their highest level in three months after Hess Corp.. said it would close the refinery in Port Reading, New Jersey at the end of February. "Total durable goods orders was excellent and bodes well for energy demand," said Phil Flynn, senior analyst at Price Futures Group in Chicago. "gasoline price increases in the market today this, and it has supported oil prices.
After reaching 11-month high at 1.3478 last Friday, the Euro entered a phase of consolidation on Monday, and even though the hourly chart shows the movement of a neutral, long-term indicators are still showing a bullish signal. Penetration into the 1.3480/85 (high 25Januari / 2012) will open the door for a continuation towards 1.3500 area, while just under 1.3390, bearish pressure will probably increase, hold and resume bullish correction phase / consolidation.
Stocks Amid Stronger U.S. Economic Data Mixed
U.S. stocks traded near the highest level in five years on Monday after data on pending home sales fell last month, while Caterpillar Inc.. record profits and bookings for durable goods rose in December. Market recently strengthened in a row, the main trigger for the decline. "Gauge has climbed eight straight days TURT, this can not go on forever," said Dan Greenhaus, an analyst at BTIG LLC, in commenting on the strengthening of the longest in the S & P 500 in more than eight years. Grennhaus added that he would be happy if a "slight decline between 5% to 7%," he said that the weakness might be "given the fiscal problems that will be set in the spring", referring to the debate over the issue of budget cuts that will begin 1 March.
Gold slips ahead of Fed meeting
Gold fell on Monday as investors were cautious ahead of a U.S. Federal Reserve meeting, which should reveal more details of the Fed's policy of quantitative easing. "Refrain market is ahead of the U.S. Federal Reserve meeting, and expect any comments on quantitative easing measures more further, "said Frederic Panizzutti, head of marketing at MKS Finance." Day trading is fairly quiet, with gold players monitor the movements of EUR / USD, saw many indications of what will happen in the next few days, "he added.
Durable Goods Data Fly Oil
Oil prices rose to their highest level in four months after the Commerce Department said durable goods orders figures rose by 4.6% in December. Gasoline prices rose to their highest level in three months after Hess Corp.. said it would close the refinery in Port Reading, New Jersey at the end of February. "Total durable goods orders was excellent and bodes well for energy demand," said Phil Flynn, senior analyst at Price Futures Group in Chicago. "gasoline price increases in the market today this, and it has supported oil prices.
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