EUR/USD down 0.40%. US oil closed at $39.44

EUR/USD experienced moderate losses today. As of 6:00 PM EDT the currency pair was trading at 1.1269, which is 0.40% lower than the previous close.

The pair was trading around 1.1100 till Wednesday, when the rate jumped above the 1.1200 levels. The rally continued on Thursday closing the week with a 1% increase.

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“EUR/USD is through the seven month resistance line at 1.1308 and is approaching the February high at 1.1377, we look for the market to now struggle. We note the 13 count on the 240 minute chart and if not already done so we would tighten stops on longs/exit. Above here lie the September and October highs at 1.1460/95” said Karen Jones from Commerzbank.

US shares closed higher today. Below is mentioned the performance of major indices:

  • DJIA closed at 17,602.30, up 0.69%.
  • Nasdaq Composite increased by 0.43% finishing at 4,795.65.
  • S&P 500 closed the session at 2,049.58, which is 0.44% above the previous close.

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US stocks gained this week. DJIA, Nasdaq Composite and S&P 500 finished with 2.21%, 0.98% and 1.35% increases respectively.

Oil prices fall today, however they still posted significant gains this week continuing the rally that lasts five weeks. The WTI Crude closed at 39.44 USD/bbl losing 1.89%. Brent Crude was trading at 41.44 USD/bbl as of 5:31 PM EDT, which represents a 0.24% decline.

The oil prices posted more than 3% increase this week, which was mainly driven by the expectations from the upcoming meeting in Doha, where the major oil producers will discuss cooperative production freeze deal.

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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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