Monday, July 25, 2011

EUR/USD 1,4378

The Euro weakened in the market after the opening bell at Wall Street. EUR/USD broke below 1.4355/60 and fell to 1.4335, level that is located just 10 pips above daily lows. If it falls below 1.4320 it would be trading at the lowest level since last Thursday, when the European Council announced measures to address the European debt crisis.

From a technical perspective, Valeria Bednarik, Chief Analyst at FXstreet.com, affirms: “Lacking definition, hourly chart shows indicators flat around their midlines, while price hovers around and also flat 20 SMA. 4 hours chart shows a slightly bullish tone as per a strong 20 SMA heading north, yet only above 14440, past week high, the pair may resume its bullish tone.”

The Euro also weakened versus the Swiss Franc and reached a fresh 6-day low. EUR/CHF fell to 1.1518, rebounded and currently trades above 1.1530.

source: fxstreet.com


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3 comments:

  1. Aaron M. GipsonJuly 25, 2011 at 2:42 PM

    I bet this is a really wild ride for you with all of the potential defaults both their and Europe and in the United States. Factor in the trouble in Japan, and I am willing to bet that this is probably the craziest year in Forex for you ever.

    ReplyDelete
  2. Electric AddictJuly 25, 2011 at 8:19 PM

    good info thanks

    ReplyDelete
  3. AdminJuly 28, 2011 at 4:17 PM

    Pretty interesting post.

    ReplyDelete

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