The currency pair EUR/USD has broken through resistance at 1.2509, indicating a long rebound. Resistance at 1.2577 held at the moment. Other resistance can be found at the level of 1.2632. Hour support is at 1.2492 (maximum of 13 November 2014) and 1.2395 (minimum 11 November 2014).
In the long term, the currency pair EUR/USD dollar is in a downtrend since May 2014. "Breakthrough strong support area between 1.2755 (minimum 9 July 2013) and 1.2662 (at least November 13, 2012) opened the way to reduce towards the strong support at 1.2043 (minimum 24 iyulya.2012 years). Key resistance is at 1.2886 (maximum 15 October 2014), "- say the experts of the Forex Broker Company Swissquote (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
A short position in the Euro - US dollar has been stopped
Publication of key data on the euro zone on Friday showed GDP growth in the third quarter, which was better than expected at + 0.2%. Economists had expected an increase of 0.1%, while the data for the previous quarter showed stagnation. Growth in annual terms was still weak 0.8%, but better than the 0.7% expected. The index of business sentiment also points to modest growth in the last quarter of the year, and this will mean that the eurozone is likely to avoid the worst fears of this year. Final data on inflation in the euro area in October came in line with expectations (+ 0.4% yoy). Trading on the currency pair EUR/USD dollar was interesting, as the market is already partially taken into account the stronger-than-expected GDP figure to exit due to strong GDP data for Germany and France, which were released earlier. On publication of a stronger-than-expected retail sales in the US currency, the EUR/USD dollar briefly fell below 1.24, then rebounded to 1.2485, despite the optimistic data from the University of Michigan. Some traders say that fatigue is hidden behind the inability to demonstrate the dollar rally against the euro, despite the good data. On November 17, 2014, the market will focus on US industrial production and trade balance of the euro area.
