EUR/USD fell on Friday as traders continue to react to all of the negative headlines out of the EU. The G20 failed to produce anything good for the Europeans, the ECB had to buy Italian 10 year bonds again, and the Greeks are having a confidence vote on their Prime Minister. Italy is now talking about doing the same thing with theirs. Enough drama yet? There is more to come, we are sure. Because of this, we think the 1.40 level will continue to keep a lid on this pair.
EUR/CHF actually rose on Friday as it was creeping much lower towards the “floor” in this pair at 1.20. The pair is still 200 pips above, but one has to wonder what the long-term outlook is for this pair. The SNB keeps the floor at 1.20, and the EU simply cannot get it’s act together to make this a compelling long-term buy.
Create a FREE account