Forex Videos

MBCFX brings you the latest technical analysis on the EUR/USD pair for the July 11th in this video.
EUR/USD — The EUR/USD prices dropped after data showed that many Industrial Production in France and Italy missed forecasts and improved Initial Jobless Claims in USA has increased demand for US Dollar. The weak data in Eurozone came after a series of disappointing economic reports from Germany suggesting that further Monetary Easing from European Central Bank is needed to boost the Eurozone economy. The Central bank in Portugal to delay a debt payment is also weighed on the single currency reminding markets that the Eurozone Debt crisis remains the biggest threat to the region with fragile growth. German and Spanish CPI data in Europe and Federal Budget balance in US are the only important data reports to be monitored by traders today. The EUR/USD retreated slightly after retesting the key support level of 1.3588 and this decline was due to the formation of divergence between the trend of the prices and stochastic trend. However the general trend of the Euro would remain bullish and the next targets will be towards the main level stated in our daily newsletters.