Euro Versus Dollar and Pound November 18th

FX Strategy Video > Currency Pairs Analysis

The EUR/USD attempted a rally for the Thursday session, only to fall back below the 1.35 level. It appears that the poor bond auctions in the EU are finally starting to catch up with the currency, and that the better than expected number out of the USA are starting to help the USD as well. With this in mind, it looks weak at this point.

The 0.85 level looks like it is about to give way in this pair. Considering how poorly the Pound looks against so many currencies, the fact that the Euro is struggling shows real weakness in the common currency at this point in time.

Published on 17th of November 2011
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