Monday, March 7, 2011

EUR/USD 1.4035

The Euro is moving further away from 4-month highs that lie at 1.4035 as the Dollar gains momentum across the board. EUR/USD broke below 1.3990 and tumbled to 1.3970 hitting the lowest price since early European hours after being unable to rise above 1.4015.

According to Andrei Tratseuski from Forex Club the EUR/USD happens to be in extreme uptrend, “yet is beginning to look like as being overbought with a possible correction due”. He locates current resistance at 1.4050 and support at the 1st Standard Deviation at 1.3900.

Despite falling versus the Dollar, the Euro reached fresh daily highs against commodity currencies amid a decline in US stocks.

source: fxstreet.com
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10 comments:

  1. AnonymousMarch 7, 2011 at 11:37 AM

    A lot of people as of late have been talking about buying iraqi Dinar lately, waiting for the economy to stabilize, and selling it again. What are your thoughts on this?

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  2. edMarch 7, 2011 at 12:03 PM

    sucks that us stocks are losing

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  3. ChrisMarch 7, 2011 at 1:16 PM

    How will the Europe countries be affected if the turmoil in MENA spreads around?

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  4. GenericMarch 7, 2011 at 1:20 PM

    US #1 XD

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  5. WinkMarch 7, 2011 at 1:52 PM

    As a European, I can't complain!

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  6. BuzzAldronMarch 7, 2011 at 2:23 PM

    Is that a good thing for the US? I can't tell.

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  7. Aaron M. GipsonMarch 7, 2011 at 2:43 PM

    I know Ed, it's somewhat depressing to watch your currency dribble away to nothing like this...

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  8. Armenia the FinestMarch 7, 2011 at 2:50 PM

    ahahah Canadian dollar higher than US. That's pretty good because I can go shopping in the states now for cheap. It's a small difference, but whatever I'm cool with the Canadian dollar in the lead.

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  9. UnknownMarch 7, 2011 at 3:40 PM

    for me as european thats good news

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  10. 404March 7, 2011 at 10:30 PM

    if the situation in saudi arabia worsens things are going to be well and truly screwed up

    ReplyDelete

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