Euro Versus Dollar and Aussie November 3rd

FX Strategy Video > Currency Pairs Analysis

EUR/USD had a positive day for the Wednesday session, but it shouldn't have come as a surprise after the massive fall earlier in the week. The bounce was expected, and many traders simply sold into it. Because of this, we think the next move is still down as the trend and weight of uncertainty continues to plague the common currency.

EUR/AUD acted very much the same. We saw a rise, and then a fall in the pair to form a shooting star in what is a certain downtrend. The selling of this pair has been very profitable lately, and as such - we think more os the same is in store.

Published on 2nd of November 2011
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