US MBA mortgage applications w.e. 5 February -4.1% vs +8.1% prior

Prior +8.1%

  • Market index 940.4 vs 981.1 prior
  • Purchase index 318.8 vs 334.6 prior
  • Refinancing index 4,549.2 vs 4,746.2 prior
  • 30-year mortgage rate 2.96% vs 2.92% prior

The drop stems from a decline in both purchasing and refinancing activity, with the long-term mortgage rate creeping higher amid the push higher in yields as well.

That said, this is just one slight bump in housing market conditions after mo

Further Development

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Analyzing the current trading chart of EUR/USD, I found that the buyers got exhausted today and the downside roattion would be probably to correct strong upside movement from recent few days.

Watch for selling opportunities with the downside targets at 1,2090, 1,2055 and 1,022.

Based on the 4H time-frame I found that slope pattern, which is another sign that there is potential drop on the EUR.

Key Levels:

Resistance: 1,2140

Support levels: ,2090, 1,2055 and 1,022.

The material has been provided by InstaForex Company – www.instaforex.com

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