Tuesday, 8 November 2011

EURUSD...surprise surprise...resistance

Price has momentarily stopped but will we see a accelaration through or a reversal.Italian vote results are due. The market seems overly optomistic and i confess i was expecting to see 1.3500 this week but all news is seen as bullish and in favour of the euro yet the overall context is ignored as is bad news- you dont need a degree in maths to work out the figures..... so we should be ( by all that is right) in the 1.20's or lower(all things considered) but yet here we are in the high thirties moving sideways yet euro pairs such as EURGBP are being/have been punished.

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