| EUR/USD intraday: further advance. |
Pivot: 1.3040.
Our Preference: LONG positions @ 1.305 with 1.312 & 1.314 as next targets. Alternative scenario: The downside penetration of 1.304 will call for a slide towards 1.3015 & 1.299. Comment: the pair stands above its support and remains on the upside. |
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EUR/USD Oct. 17 Climbing as Spains Avoids Moody’s Downgrade Posted: 17 Oct 2012 04:01 AM PDT EUR/USD continued its impressive rally, punching past the 1.31 line. The markets reacted positively to the decision by the Moody’s credit agency not to downgrade Spain’s credit rating. After the announcement, the euro moved upwards and Spanish bond prices fell. European leaders will gather at the European Economic Summit in Brussels on Thursday and Friday. The debt crisis in Spain and Greece will top the agenda, and the leaders are also expected to discuss steps for closer integration of the Euro-zone. It’s a quiet day, as there are no scheduled European releases. Today’s economic highlight is US Building Permits. |
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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