Saturday, April 16, 2011

EUR/USD 1,4432

The Euro fell on Friday against the Dollar and posted a small weekly decline. The EUR/USD reached fresh 14-month highs on Tuesday around the 1.4520 region that become a strong resistance zone capping the upside on the subsequent days.

The European currency moved in a 170 pips range between the highest and the lowest price of the week, after rising more than 250 pips in the previous one. The pair failed to make a daily or weekly close above 1.4500 and finished the week hovering below 1.4450.

Analysts at the Danske Bank continue to warn that based on differences in monetary policy between the Fed -that remains dovish- and the ECB -that has already raise rates- the EUR/USD “still point to the upside”. They expect the EUR/USD to trade at 1.50 in three months, at 1.50 also in six months and at 1.40 in 12 months “as the market begins to price in the first Fed hike”.

source: fxstreet.com 


14 comments:

  1. In a communist society there is no recession.
    FOLLOWED.

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  2. thanks for keeping me updated :)

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  3. I just wonder what kind of confidence those guys can have about predicting out to a year.

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  4. As always nice to see a daily graph of comparison. Keep it up.

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  5. Hopefully the dollar is getting ready to make a comeback.

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  6. Was does it have to close on sat.

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  7. Im investing all my money in gold but this is still really useful

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