Euro Versus Yen and Dollar October 12th

FX Strategy Video > Currency Pairs Analysis

EUR/JPY approached the 105 level, and area that has been resistive on Tuesday. The pair failed to break through, and even sold off a little towards the New York close as the Slovaks have rejected the EU bailout fund. The vote was expected, but the fact that it sold off anyway shows just how nervous people are.

EUR/USD had a fairly quiet day as the 1.37 level continues to keep prices down. The gap from a couple of weekends ago was formed at this level, and continues to keep a lid on the Euro. Because of this, we are still bearish of the Euro. Besides - there are simply far too many potential problems with the EU to own this thing.

Published on 11th of October 2011
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