EURUSD Sellers Gain Control

EURUSD moved lower during the past couple of sessions, as Greece exit fears escalated one more time.
German wholesale price Index released by the Statistisches Bundesamt Deutschland rose by 0.5% in May 2015, compared to the preceding month.
Spanish Consumer Price Index released by the National Institute of Statistics declined by 0.2% in May 2015 just as the market expected.
Euro area Industrial Production published by the Eurostat increased by 0.1% in April 2015 whereas the market was expecting 0.3%.

German Wholesale Price Index

Earlier during the London session, the German wholesale price Index, which helps in evaluating the value of sales made by wholesalers in Germany was published by the Statistisches Bundesamt Deutschland. There was an increase of 0.5% in the German WPI in May 2015, compared to the preceding month. However, the yearly change rate was disappointing, as it declined by 0.4% in May 2015 from the corresponding month of the preceding year.

Spanish CPI
The next important release was the Spanish Consumer Price Index, i.e. a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services was released by the National Institute of Statistics. The outcome was mostly in line with the forecast, as the Spanish CPI rose by 0.5% in May 2015, compared to the preceding month. Similarly, the yearly change was in line with the forecast with a decrease of 0.2%.

Euro Area Industrial Production
The Euro Area Industrial Production was published during the London session by Eurostat. The result was disappointing, as the Industrial Production increased by 0.1% in April 2015, compared with the preceding year but was on the lower side as the market was expecting a rise of 0.3%.

EURUSD Reaction
EURUSD was lower Intraday, as there we
re tensions surrounding the Euro Zone regarding Greece exit. The pair is heading towards 1.1160, which can be seen as a short term support area. On the upside, 1.1200 is a major hurdle for buyers.

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.