{"id":81483,"date":"2015-11-24T06:41:44","date_gmt":"2015-11-24T11:41:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=81483"},"modified":"2015-11-24T07:09:57","modified_gmt":"2015-11-24T12:09:57","slug":"euro-edges-higher-following-german-ifo-beat","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/11\/euro-edges-higher-following-german-ifo-beat\/","title":{"rendered":"Euro Edges Higher Following German IFO Beat"},"content":{"rendered":"<div id=\"inves-1548723657\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 24, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>EUR\/USD is moderately firmer Tuesday after logging a new seven-month low of 1.0593 during the New York PM session Monday. A stronger than expected German Ifo report also help the currency pair gain traction. The yield differential continues to support the currency pair but it appears that the recent run-up in U.S. treasury prices has eroded some of the currency pair\u2019s value.<\/p>\n<p>The German Ifo index beat expectations and jumped to 109 from 108.2 in the previous month. Expectations had been for a broadly steady number, but with both current conditions and future expectations indices moving up, the overall index rose to the highest level since June last year. The diffusion index, shows optimists outnumber pessimists in all sectors, although most notably is the rebound in manufacturing confidence, which belies the weak orders data, concerns about slowing growth in emerging markets and the emission scandal.<\/p>\n<p>The EUR\/USD has support at Monday\u2019s lows at 1.0590 and then the April low of 1.0520 and the March low of 1.0480.\u00a0 Resistance is seen near the 10-day moving average at 1.0708.\u00a0 Momentum has flattened and although the MACD is negative the trajectory of flat pointing to consolidation.\u00a0 The RSI is print a reading of 31, just above the oversold trigger level of 30.<\/p>\n<p><a href=\"http:\/\/blog.forextime.com\/wp-content\/uploads\/2015\/11\/eur-112415.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9896\" src=\"http:\/\/blog.forextime.com\/wp-content\/uploads\/2015\/11\/eur-112415-300x194.jpg\" alt=\"eur-112415\" width=\"300\" height=\"194\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p><div id=\"inves-3248061086\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime EUR\/USD is moderately firmer Tuesday after logging a new seven-month low of 1.0593 during the New York PM session Monday. A stronger than expected German Ifo report also help the currency pair gain traction. The yield differential continues to support the currency pair but it appears that the recent run-up in U.S. [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-81483","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=81483"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81483\/revisions"}],"predecessor-version":[{"id":81485,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/81483\/revisions\/81485"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=81483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=81483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=81483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}