Friday, March 18, 2011

EUR/USD 1,4054

he European shared currency is surging across the board as the risk on environment continues to dominate the trade. The currency has been boosted heavily by comments from FinMin Noda pointing that the ECB may be stepping in too and intervene on the EUR/JPY cross.

Investors quickly rushed off jumping on the EUR/USD on the speclation, driving the pair from an early low at 1.3980 to new 2011 highs at 1.4080. “Next reported orders are some sell orders at 1.4100/10” said Sean Lee at ForexLive. EUR/JPY also skyrocketed on the news, currently above 115.00 from a bottom at 106.55 yesterday, almost a 1,000 pips recovery.

Meanwhile, the Dollar/Yen has also begun to re-accelerate its travel north breaking 81.50 key resistance area to currently trade at 81.80. “The numbers being bandied about at the moment are about 2 trillion Yen already this morning in intervention; that’s about 25 billion USD/JPY bought by my reckoning” explained Mr. Lee.

source: fxstreet.com

18 comments:

  1. I think it's gonna hit around 1,4080 once more

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  2. I can't believe what the G7 are going to do!

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  3. thats a steep drop in the eur/usd chart

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  4. Finally yen is weakening a little

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  5. jeez, I bet some people made some good money on that!

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  6. Pretty scary chart indeed...

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  7. i hope that it doesnt get worse

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  8. It's it just crazy how they can manipulate the currency like that.

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  9. this blog is one of the most information packed I have ever seen!

    I have always been interested in international monetary systems and stock / currency trading so I will be sure to have a good look through your earlier posts. Do you have any articles on this blog you would recommend for those looking to start out in currency trading?

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  10. Yikes, I know its only hundreths of a cent but dayum, that chart is really overdramatic on that drop!

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  11. funny how speculation can do that to currencies

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  12. I used to get 1.6 dollars per euro i had. Now i dont feel like trading for those expensive dollars :)

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  13. Scary stuff.....

    Interesting blog, followed.

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  14. Hey, I was wondering about buying gold or silver... which would you recommend?
    Or any advice on saving for the shitstorm incoming?

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