EUR/USD down 0.16%. Oil prices rose more than 2%.

EUR/USD slightly declined during Asian session today. As of 3:00 AM EDT the pair was trading at 1.1357, which is 0.16% lower than the previous close.

Commerzbank analyst Karen Jones provided targets for EUR/USD, stating that it is possible the pair will decline to recent lows in the 1.1140 area.

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“EUR/USD charted another new high (1.1454), which again was not confirmed by the daily RSI and this suggests a loss of upside momentum just ahead of the September and October highs at 1.1460/95 and the 1.1577 pivot line – we now look for failure. We would allow for slippage towards the 1.1144 24th March low. Key nearby support lies the 1.1060/58 December high and the March 16 low. This guards the bottom of the range at 1.0908” written in the report.

Asian shares were mixed today. Below is presented the performance of major indices:

  • Shanghai Composite closed at 2,984.96, down 0.78%.
  • Nikkei 225 increased by 0.46% finishing at 15,821.52.
  • Hang Seng was trading at 20,335.84 as of 3:50 PM HKT, which represents a 0.34% gain.
  • Australia’s S&P/ASX 200 lost 0.53% closing at 4,937.60.
  • India’s Sensex was trading at 24,696.17 (+0.04%) as of 1:22 PM IST.

Oil prices increased during Asian session today. As of 3:30 AM EDT the WTI Crude was trading at 38.31 USD/bbl up 2.82% and Brent Crude at 40.28 USD/bbl, which is 2.16% higher than the previous close.

Yesterday the US data revealed a build of 255,804 barrels at the Cushing, Oklahoma delivery hub for U.S. crude futures.

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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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