Saturday, June 11, 2011

EUR/USD 1,4349

EUR/USD is about to close the week recording an impressive loss after 3 weeks with gains. The pair has erased within the last 3 days the gains accomplished last week as it failed to break above 1.4700 on Wednesday and plummeted more than 350 pips.

During Friday's American session, the pair accelerated to the downside amid risk aversion and continuing concerns about the Greek debt crisis, dropping over 180 pips or 1.2% and breaking through several support levels to reach the lowest price since June 2 at 1.4322. However, EUR/USD has managed to bounce from lows, back above the 1.4330 zone which represents the 50% retracement of its last rally and at time of writing, EUR/USD is quoting at the 1.4340/50 region.

The hegemonic currency is the worst performer this week, having fallen 4 out of the 5 trading days against the Greenback, and it is on track to close Friday 1.81% below its Monday's opening. Against the Yen, the Euro is 1.64% down on the week.

source: fxstreet.com


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7 comments:

  1. NeonJune 11, 2011 at 7:04 AM

    I'm not good in finances, is it a good or a bad thing? A great blog btw, followed. ;)

    ReplyDelete
  2. Blood487June 11, 2011 at 7:08 AM

    Wow - hard to think Currency can change so much!

    Followed!

    ReplyDelete
  3. ZakakaJune 11, 2011 at 7:30 AM

    wow, I didnt know the system works like this.. I gotta read your blog more :)

    ReplyDelete
  4. edJune 11, 2011 at 10:54 AM

    i feel bad for the hegemonic currency

    ReplyDelete
  5. D3N00B1F13D™June 12, 2011 at 6:35 AM

    My mind is blown by this kind of system!
    Nah.. I think I'm not just suited for economics. :D

    ReplyDelete
  6. FoodLadJune 12, 2011 at 6:39 AM

    Definitely coming to this blog for more currency news. Nice work!

    ReplyDelete
  7. Mile2MarathonJune 12, 2011 at 8:36 AM

    Agreed with Blood487

    Interesting blog btw

    ReplyDelete

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