Euro Versus Dollar and Pound March 1st

FX Strategy Video > Currency Pairs Analysis

EUR/USD originally rose during the Wednesday session as the "risk on" attitude came into play. The LTRO came out, and the ECB didn't mention another one. The Fed Chairman also didn't bother to mention more QE, and an official at the Bank of England said the perhaps the BoE doesn't need to ease anymore. The pair fell naturally......

The EUR/GBP was a much uglier affair as the 0.85 level has held as resistance, and the 0.84 level gave way immediately. The pair is in a downtrend, so we are comfortable anyway. The pair is a sell on a break below the bottom of the Wednesday lows.

Published on 29th of February 2012
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