Euro Versus Pound and Dollar November 23rd

FX Strategy Video > Currency Pairs Analysis

EUR/GBP rose during the session on Tuesday, but is finding resistance at the 0.8650 level and forming a shooting star at the close. With this in mind, it should be noted this is a contest between two very ugly currencies, so a break below the session lows could send this pair lower - but at a grind, not a sprint.

EUR/USD continues to defy gravity at the 1.35 level. The pair is currently the eye of the storm, and as such many traders are watching it with great interest. The support seems to run all the way down to 1.31, so the move down could be very difficult. However - we certainly wouldn't buy this pair!

Published on 22nd of November 2011
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