EUR/USD ends Lower this week

EUR/USD settles around 1.4230/50 as a highly volatile week comes to an end. The pair swung erratically throughout the week as news and fundamental data hit the markets among which are worth noting, rumors about a downgrade to France, a collapse on the stock markets and a temporary short-selling ban on financial shares imposed by some European countries, zero rates in the US until mid-2013 and ECB intervention on the bond markets.

On this backdrop, EUR/USD moved between a high of 1.4425 at the opening and a low of 1.4103 on Thursday, where the aftermath has left the Euro around 1.4240 on track for a third consecutive weekly loss versus the Greenback, this time for 1.28%.

Regarding next week forecast, Ilian Yotov, FX strategist at AllThingsForex, said, "The EUR keeps fluctuating within its range, but could attempt to break above it on QE3 expectations, or below it if the EU debt crisis continues to rattle the single currency."

Comments

Q3 2011 – What to Expect from the Markets

Read this newsletter in your browser . Forex Trading Newsletter | June 26th, 2011 DailyForex.com Q3 2011- New Outlooks, New Tools Q3 2011 begins at the end of this week, but for most Forex traders, looking backwards is the only way to prepare for the changes ahead. Amid speculation that the Bank of England will keep interest rates down, the British Pound posted its fourth week of consecutive declines against

Technical Analysis EUR/USD Similarly to what is happening all across the board, the USD bullishness did not skip this pair as well. It appears that the local EUR/USD bearish momentum might be taking the pair to 1.2600 levels. There are still bearish signals on one hourly chart, yet it seems that pair is overlooking all technical aspects. Going short wit tight stop might be the right choice today. GBP/USD A bearish formation on the daily chart is still intact; however the momentum is already quite low. The 4 hour chart is also maintaining a slightly bearish configuration yet with no distinct conclusion. The Bollinger Bands are tightening which indicates that the break might be imminent. Traders are advised to hold for the break and then swing into it. USD/JPY The pair is continuing its bearish movement with full steam, as it breached the 97.60 support level. The daily chart shows that the current price has dropped beneath the Bollinger Band's lower boarder, indicating th

Forex Trading - The Biggest 6 Mistakes That See 90% Of Traders Lose

by Sacha Tarkovsky The mistakes below are common amongst novice traders and ensure 90% of them lose and lose quickly - while novice traders make these mistakes so do experienced traders. If you make them, you will lose so avoid them and increase your chances of success dramatically. Here they are all ways guaranteed to lose you money. 1. You Can Buy Success Many traders think trading is easy and they can buy success in forex trading for a few hundred dollars - major mistake! Most forex education sold on the net is sold by marketing companies or failed brokers and simply doesn't work - if it did it would not be sold. There is some forex education you can buy that's good and the best way to ensure it is worthwhile is only accept the proof: A real time track record of profits no hypothetical simulations! To follow a trading method you will need to understand how and why the logic works - if you follow it without understanding it, you will not have the confid

Everthing about Forex Trading...

Search This Blog