This Analysis is brought to you by PROFIFOREX EURUSD On Monday, the euro went down following data released which showed that the speed of growth in the private sector region of the Eurozone had dropped down to a low of sixteen months for the month of May. This was despite reasonable growth coming from France and Germany. Thus today, we had the EURUSD going down to 1.1209 which is a decline of about 0.13%. This fall brings the pair closer to 1.1176 which was the least point the pair had fallen to for almost 10 weeks now. Today saw a weakening euro after the preliminary reading of the euro zone composite PMI (purchasing managers’ index).

• Currency Pairs Charts
• Major Currency Pairs
• The Behavior Of The Currency Pair On Forex

Currency Pairs Charts

If your currency pair breaks a significant support or resistance line, does it push through and make an impressive move? If the pair doesn’t break through, does it slow down when approaching such a line? If so, this is a predictable currency pair. Yet not all currency pairs behave this way, to say the least.

Binary options banc de binary,. This economic indicator tries to estimate the combined output of both the service sector and the manufacturing sector measuring growth of private sector in Europe. The reading had slid down from 53.0 which it posted last month to 52.9. This fall as said brings it down to sixteen months lows.

The report was released on monday after data released on the German private sector had shown a growth. This month's impressive posting from the German private sector would mark the first time this indicator would actually post impressive readings this year. On the other hand, the private sector in France had even grown at an improved speed-its best in almost twenty eight weeks. Yet these impressive data from France and Germany were not enough to support the euro as they were yet overshadowed by the disappointing preliminary data of the Eurozone composite PMI. Thus, the euro retreated down to $1.1190 which is decline of about 0.28%. Binary options trading forex free. From the US, the dollar gained support from the April minutes of meeting of the Federal Reserve which had shown that there is a strong possibility that the federal reserve may raise interest rates by June. William Dudley who is the New York Federal Reserve President revealed last week said that the US economy boasts sufficient strength to prompt interest rates hikes this July or earlier by June.

Major Currency Pairs

Such sentiments of soon interest rate hikes were supported by Eric Rosengren, Boston Fed president who said the US economy was approaching very closely the needed conditions to be met to warrant possible interest rates hikes. The EURUSD went further to touch lows of 1.1200. Support levels: 1.1065, 1.1131, 1.1176 Resistance levels: 1.1287, 1.1353, 1.1398 EURUSD support and resistance: EURUSD indicators: Looking into the future, the market is full of speculations that the upcoming June meeting of the Federal Reserve would mark a significant push for interest rate hike. This has greatly boosted the dollar thus suppressing the euro.

The Behavior Of The Currency Pair On Forex

The dollar thus looks set to enjoy a run of gains against the euro for now. This makes the trend of the EURUSD likely bearish. USDJPY Trade data coming from Japan on Monday were notably impressive. This brought the yen back up against the dollar as the yen had earlier on been suffering three weeks losses against the American dollar. The Japanese yen was well supported after this data had shown that trade surplus from Japan for the month of April came out as high as ¥823.5 billion. This was well exceeding anticipated figures put forward by analysts who were expecting something in the region of ¥493 billion. This even suppressed a strengthening dollar supported by strong sentiments of June interest hike from the Federal Reserve.

Other than this, reports released on Japanese factory activity revealed that factory activity from the Asian giants was squeezed and reduced at the greatest speed in over thirty six months now as there was a decline in new orders. The dollar thus went down to 109.42 yen which is about a fall of 0.60%. Also data released on Japan's export had also shown a decline this April of over 10% as compared to what it posted same time last year. This Monday, thus we had the USDJPY falling down past 109.60 thus retreating from the highs of last week which it set at 109.67. This would make a fall of over 0.37% last week on the USDJPY. It would now appear that these string of unimpressive data would push the Bank of Japan further to introduce more stimulus measures as against gains of the yen. But then it is not very clear that Japan would clamp down on further gains of the yen by intervention.