Euro Versus Dollar and Yen November 29th

FX Strategy Video > Currency Pairs Analysis

EUR/USD initially surged on reports of an IMF bailout of Italy. This rumor was denied, and the rally only proved to be what they all have been lately: A chance to sell the Euro again. The resulting candle is a shooting star, and looks very weak.

EUR/JPY had a slightly better day, but also had the pullback that the EUR/USD. (To a lesser extent.) The 104 level seems to be fighting back, and as a result - this pair will probably continue to be a "sell the rallies" market.

Published on 28th of November 2011
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