Market Review – 16/08/2011 22:04 GMT Euro pares its gain on disappointing French-German proposal The single currency retreated on Tuesday as German Chancellor Angela Merkel and French President Nicolas Sarkozy said in a press conference that they...
Euro speculations amid upcoming meeting of Sarkozy and Merkel.
Market review for 8 – 12, 2011
Traders will witness the release of moderately significant reports on inflation at the consumer and retail level in the UK today at 9:30 GMT. Should the figures reveal stagnation in inflationary growth, we could see heftier flights...
The US Dollar Index depreciates on the event of most of the asset classes either stabilizing or posting gains, especially the equity bourses across the world; the Dow has gained for successive third session after major fall...
The pair has confirmed a strong bullish bounce over the last trading session with a rally towards a former support at 1,05.
The pair has been under pressure the most part of monday’s session with a decline towards a first support level at 0,98 corresponding to a 38% retracement of the previous rally.
In the early stage of the week, we did see the pair confirming its bullish momentum while reaching its psychological 80,00 level i.e. 200 pips above last week close.
The pair is still under pressure but continues to hold above its historical low at 76,30.
The pair continues to evolve in a long term trading range between 1,59 and 1,67 but it has confirmed a short term bullish bias after a break above 1,63 yesterday.
