Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Euro zone common currency increased its value against the US dollar during early European trade session, after the pair hit highest value since May 16th during Asian session at 1.2904. Speculations arose whether gains would remain limited before FED minutes on Wednesday.

EUR/USD pair is being traded at 1.2885-89 at the moment of the present article. Resistance levels were expected at 1.2928, highest value from May 16th, while the cross was likely to find support at 1.2818, lowest value from Monday.

Markets lie in wait for FED Chairman, Ben Bernankes speech at the US Joint Economic Committee and the minutes of the Fed’s most recent policy meeting. These events are expected on Wednesday. Investors expect indications that the Federal Reserve Bank is to begin scaling back its easing program this year. Positive signals were submitted last week after data, regarding Consumer Sentiment and Leading Indicators Index, both with registered increase, further paving the way towards possible economic recovery.

EUR/JPY pair increased to 132.18, while EUR/GBP cross eased up to 0.8450.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Commodities trading outlook: crude oil advances on strong US growth, natural gas gainsCommodities trading outlook: crude oil advances on strong US growth, natural gas gains Both West Texas Intermediate and Brent crude extended gains on Tuesday as better-than-expected third-quarter economic growth in the US fanned positive sentiment about oil demand in the worlds top consumer. Gains were capped as OPEC members […]
  • Forex Market: USD/JPY daily trading forecastForex Market: USD/JPY daily trading forecast Yesterday’s trade saw USD/JPY within the range of 118.49-120.47. The pair closed at 119.11, losing 1.13% on a daily basis.On Wednesday the cross rose to as high as 120.50, which has been the highest level since January 5th, when a high of […]
  • Silver plunges following goldSilver plunges following gold Silver tracked golds performance and slipped on Tuesday as the dollar regained some of its strength. The dollar index, which tracks the greenbacks performance against a basket of six major counterparts, was up 0,1% and traded at 82.81. The […]
  • Fiat SpA’s share price down, approves a sale of 4 billion euros in new bondsFiat SpA’s share price down, approves a sale of 4 billion euros in new bonds Fiat SpA made an official statement yesterday, announcing that the companys board authorized the car manufacturer to raise about 4 billion euros (5.4 billion dollars). The company is going to issue new bonds that are considered to provide it […]
  • Cisco CEO sees ‘Internet of Everything’ as a 19-trillion-dollar marketCisco CEO sees ‘Internet of Everything’ as a 19-trillion-dollar market The Chief Executive Officer of Cisco Systems Inc. – John Chambers, said that the “Internet of Everything” could turn out to be a 19-trillion-dollar opportunity, Bloomberg reported earlier today. Yesterday, Mr. Chambers made a keynote […]
  • Forex Market: USD/RUB daily trading forecastForex Market: USD/RUB daily trading forecast Yesterday’s trade saw USD/RUB within the range of 36.007-36.217. The pair closed at 36.170, gaining 0.25% on a daily basis.At 7:34 GMT today USD/RUB was up 0.15% for the day to trade at 36.223. The pair broke the first key daily resistance […]