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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 72407, member: 32345"] [CENTER][b]Date : 5th November 2014 EURUSD SLIPPED BELOW THE 1.2500 LEVEL IN THE EUROPEAN SESSION. ISM NON-MANUFACTURING PMI FROM THE UNITED STATES ON TAP.[/b] EURUSD rose yesterday and closed at 1.2544. The European Commission downgraded the economic growth projections for the Eurozone to 0.8 percent for 2014 and 1.1 percent for 2015 from the previous 1.2 and 1.7 percent for the same periods citing the slowdown in the global economy. The inflation forecast for the Eurozone was also lowered to 0.8 percent for 2015 and 1.5 percent for 2016. The US dollar lost ground after worse than expected Factory Orders report. In September the factory orders in the largest economy of the world dropped 0.6 percent. A report indicated that the ADP Non-Farm Employment Change in the United States rose to a reading of 230K in October. Market had expected a drop to 214K. Investors are now looking forward for the ISM Non-Manufacturing PMI due from the United States later today. Support for the EURUSD is seen at 1.2459 and resistance is seen at 1.2585. [img]https://blog.hotforex.com/wp-content/uploads/2014/11/EURUSD-05-November-2014.jpg[/img] Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.[/CENTER] ----------------------------------------------------------------------------------------- HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms. [/QUOTE]
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