Hi everbody this week that just past produced important movements on financial markets.With no doubt the important event was ECB decision to cut the benckmark from 0,50% to a new historic low 0,25%.The decision surprised everyone.only three form 60 economist questioned by Bloomberg magazine forecast this movement.
The decision comes in a moment when it could be better,euro area was threatened by deflation euro was over in the couple of weeks.To eliminate deflation danger ECB President Mario Draghi announced the cut of interest rate a record low euro currencies depreciated against all currencies.
11-15 November economic outlook
Euro retail sales drop by 0,6% in september 2013 compared with august 2013,despite the rose with 0,1 % of industrial producer index in september 2013 compared august 2013
Technical analysis on EUROUSD
For the next week on eurusd currencies pair I'm bearish on h4 chat if the price broke the resistance line 13319 we can choose to enter with sell oders starting with 13300 and the profit target will be near the next trend line 13212.In the scenario that price wouldn't broke the resistance line we can choose to enter with buy orders after the price test resistance line and the profit target will be near the level 13455.So that's for eurousd for the next week and don't foreget investing in stocks,commodities,fx markets implies high risks.
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