Euro Verus Dollar and Franc October 31st

FX Strategy Video > Currency Pairs Analysis

The EUR/USD pair has had a remarkable few days. The Friday session saw a slight pullback as the euphoria from Thursday subsided a little. There are many details to work out in the EU’s plan, so the markets will be digesting the issues. The 1.39 – 1.40 area will be vital in order to keep the bulls in control. A pullback to that area could be coming in the next few days, and then the real battle begins.

The EUR/CHF pair continues to look rather flat. This wouldn’t be surprising if the Euro was falling against its major counterparts, but it isn’t. In a pair that the other currency is being actively weakened by the central bank of that country, why isn’t this pair rising? This could be a hint of underlying weakness. Perhaps the EUR/USD rally was short covering after all? Keep an eye on this market, as it could be a good source of market sentiment.

Published on 28th of October 2011
eTorro - Trading Starts Here

Start Trading Forex with up to $10,000

  • 100s Videos and FX Strategy articles
  • Advice from our FX traders
  • Practive free with using real time