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Market Recap: 13 - 17 May

 

 
On Tuesday last week we covered gold which didn’t have a great week last week as it finished falling sharply away from the resistance at $1300. To start the week it surged higher to its highest level in a month reaching and testing the key level of $1300. The $1300 level has played a significant role with gold in the last few months and it would have come as little surprise to most that the sellers jumped in again at this level and forced prices lower. 
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EURUSD - Drops Below Key 1.12 Level as Germany’s Economy Rebounds

 

 
In the last few days the EURUSD has reversed and eased lower back below the current key level of 1.12 moving to a two week low. In the week prior it attempted to rally higher however the it formed a classic reversal candlestick pattern before easing lower. In doing so, it has continued to achieve lower peaks and lower troughs and now looks poised to threaten the recent trough around 1.11.
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European Union Gross Domestic Product (GDP) q/q

Today at 9:00am UK time. GDP q/q reflects the changes in the total value of all goods and services produced in the euro area in the current quarter compared to the previous one. F:0.4%, P:0.4% #EURUSD may test 1.12 or 1.13 level.

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ZEW Germany Economic Sentiment Indicator

Today at 9:00am UK time. ZEW Economic Sentiment Indicator is calculated monthly by the Center of European Economic Research on the basis of a survey of around 300 experts. F:-0.2%, P:3.1% #EURUSD may test 1.12 or 1.13 level.

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European Union Retail Sales m/m

Today at 10:00am UK time. Retail Sales m/m reflect a change in the euro area retail sails in the reported month compared to the previous one, and can have a positive effect on the euro quotes. F:0.5%, P:0.4% #EURUSD may test 1.12 level.

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Market Recap: 29 April - 3 May

 

 
On Tuesday last week we covered the US30 index which spent the remainder of the week easing back towards the key level of 26000. Up until the last few days, it had all been positive news for the index, moving steadily higher pushing through the resistance at the key 26000 level and moving to a six month high above 26600. It spent a week or so consolidating a little and was receiving some support from around 26500 to keep it up near the all time high.
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EURUSD - Meets Resistance at 1.12 Despite ECB Officials Expressing Confidence

 

 
In the last few days the EURUSD has rallied back above the new key level of 1.12 only to be sold off very strongly forcing it lower and is now looking likely to threaten the recent trough and two year low near 1.1110. The 1.12 level has ably supported the currency pair in the last couple of months however the overall trend has been clearly down with lower peaks from its trading levels above 1.15 to start the year. Now that the 1.12 level has been strongly broken through it is likely to continue to provide resistance.
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Market Recap: 15 - 19 April

 

 
On Tuesday last week we covered the AUDUSD which for the first time in some time left the prevailing range and traded above the key 0.7150 level for most of the week. The AUDUSD continues to frustrate many a trader as it continues to move little as it spends most of its time in the range roughly between 0.7050 and 0.7150. 
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EURUSD - Resistance Stands Firm at 1.13 as Concerns Grow over Weak Growth

 

 
In the last week or so the EURUSD has attempted to climb back above the current key level of 1.13 however has been thwarted and has now been sold off reasonably strongly falling to a one week low around 1.1225. This was telling in that the couple of weeks prior, the EURUSD had enjoyed a solid rally from below 1.12 to steadily move higher back to the 1.13 level after having fallen so sharply in the last week or so of March.
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ZEW Germany Economic Sentiment Indicator

Today at 9:00am UK time. Calculated monthly based on a survey of around 300 experts who are asked about their expectations concerning the economy, inflation rates, interest rates, stock markets, and oil prices for the next six months. F:-8.5, P:-3.6.

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