German ZEW Index Turns Positive – EUR/USD Breaks Above

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The important German ZEW Economic Sentiment surprised and climbed from -15.7 to +6.9 points, beating expectations of a modest rise to -11.4 points.

This pushed EUR/USD above the 1.2960 that capped it beforehand.

This ends 6 consecutive months of negative sentiment. A positive figure represents optimism and a negative one represents pessimism. Also the all-European figure surprised to the upside, climbing from -2.6 to +7.6 points.

EUR USD Above Resistance After ZEW December 11 2012

EUR USD Above Resistance After ZEW – Click image to enlarge

For more on the euro, see the EURUSD forecast.

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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 the 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.