Euro needs breakthrough after loss of momentum - FX Solutions Update - 14th October 2011

View PDF | Print View
by: fxsolutions
Total views: 7
Word Count: 186
Date: Thu, 27 Oct 2011 Time: 1:43 PM
0 comments

FX Solutions provides an update on activity around the euro on 14th October 2011:

"The euro has lost a fair amount of momentum against the US dollar in the last few trading days, with a failure to overcome resistance at 1.3835 level having surged 5% against the greenback over the last two weeks. A break above near term resistance at 1.3835 level could help the euro to target the technically and psychologically important $1.40 level again, which would also mark a 50% retracement from May's high to Octobers lows. That said, with much of the recent buying in the euro tracking investor risk appetite, headlines regarding the progress made within the euro zone, and potentially the G20 meeting today could help to define whether the euro/dollar cross rate can push through the 1.3835 level before the end of the trading week this evening."

Learn more about forex trading with a free forex demo account at:
http://www.fxsolutions.com/accounts/practice-account.asp

Forex trading involves substantial risk of loss and is not suitable for all investors.

About the Author

About FX Solutions

FX Solutions is a leading forex trading broker with a focus on advanced trading technologies, transparency of transaction and unparalleled customer service. FX Solutions serves retail clients, white label partners, institutional trading partners and introducing brokers in over 140 countries.
FX Solutions' products are regulated in the United States, United Kingdom and Australia. FX Solutions in the United States is regulated as a member of National Futures Association, and registered with the Commodity Futures Trading Commission as a Futures Commission Merchant. In the United Kingdom, FX Solutions is a registered trading name of City Index Limited which is authorized and regulated by the Financial Services Authority. FX Solutions in Australia is a registered trading name of City Index Australia Pty Ltd. which is authorized and regulated by the Australian Securities and Investments Commission.

For more information on forex trading online, please visit www.fxsolutions.com www.fxsol.co.uk and www.fxsolutions.com.au