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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 75901, member: 32345"] [CENTER][b]Date : 7th January 2015 EURUSD PREPARING TO TEST THE 1.18 LEVEL AFTER NEGATIVE CPI FROM THE EUROZONE AND BETTER THAN EXPECTED ADP NON-FARM EMPLOYMENT CHANGE REPORT FROM THE UNITED STATES.[/b][/CENTER] EURUSD dropped yesterday and closed at 1.1889. The Final Services PMI in the Eurozone came out closed to the market expectations at 51.6. The same report from the United States followed and also came close to the market expectations at a reading of 53.3. The ISM Non-Manufacturing PMI failed to meet the market expectations and came out at a reading of 56.2 in December. [CENTER][IMG]https://blog.hotforex.com/wp-content/uploads/2014/09/bullandbear-blog.jpg[/IMG][/CENTER] Data released today pushed to EURUSD even lower. The CPI Flash Estimate year over year report from the Eurozone came out at a reading of -0.2 percent. That’s the first time since 2009 where the Eurozones’s CPI declines. A report from the United States pressurized the single European currency after the ADP Non-Farm Employment Change came out better than the market expectations at a reading of 241K. While the EURUSD is looking to potentially break the 1.18 level investors are looking forward for the FOMC Meeting Minutes due later today. Support for the EURUSD is seen at 1.1817 and resistance is seen at 1.1936. [CENTER][IMG]https://blog.hotforex.com/wp-content/uploads/2015/01/EURUSD-07-January-2015.jpg[/IMG][/CENTER] 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. [/QUOTE]
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