The important German ZEW Economic Sentiment indicator rose from 31.5 to 48.2 points. Early expectations stood on a rise to 35.3 points. Also the all-European surprised to the upside, rising from 31.2 to 42.4, also beyond expectations. If the euro is a proxy for Germany, bulls are now sighing a sigh of relief. This is the highest score since April 2010. EUR/USD traded around 1.3350 prior to this publication, maintaining the narrow trading ranges seen beforehand. It is now on the rise, and made it all the way to 1.3374 before retreating a bit. Update: The enthusiasm has been curbed: EUR/USD is back under 1.3350. This figure strengthens the notion that Germany’s big dive in Q4, a contraction of 0.6% in GDP, was a one time event. ZEW and IFO are considered good gauges for the economy. However, they are not 100% accurate. The euro is still looking for a direction, after getting hit by Draghi and later by the GDP numbers last week. The euro-zone is in recession, while Germany only saw a one time dip after quite a healthy year. Resistance is at 1.34, followed by 1.3486. Strong support is at 1.3290. For more, see the EURUSD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD – Steady after Draghi Remarks Kenny Fisher 10 years The important German ZEW Economic Sentiment indicator rose from 31.5 to 48.2 points. Early expectations stood on a rise to 35.3 points. Also the all-European surprised to the upside, rising from 31.2 to 42.4, also beyond expectations. If the euro is a proxy for Germany, bulls are now sighing a sigh of relief. This is the highest score since April 2010. EUR/USD traded around 1.3350 prior to this publication, maintaining the narrow trading ranges seen beforehand. It is now on the rise, and made it all the way to 1.3374 before retreating a bit. Update: The enthusiasm has been curbed:… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
