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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - UK Prime Minister Cameron's speech is being digested by the market, but hasn't been a trigger of a more pronounced move, at least yet. Cameron considered the EU as a mean to an end and not the end in itself, but he doesn't wish to retreat nor he wants the UK to drift towards an EU exit, despite the competitive crisis in Europe and the UK acute democratic deficit.

The UK PM points to restrictive labour markets and excessive regulation as some of the main problems, and calls for the completion of the single market in the EU, flexibility as the second principle to adapt to all countries wishes, a leaner, less bureaucratic EU, and a bigger role for EU national parliaments. The UK-EU referendum should be held in 2017.

The EURUSD continued trading around the 1.3300 psychological level. "While range floor t 1.3280 that proved to be solid support, stays intact, range-trading will remain in play, while break lower would signal a fresh direction and expose 1.3250 and 1.3200", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to 1.3370 on the upside to improve the near-term structure, but only clear break above 1.3400 to signal resumption of an uptrend from 1.2660, 2012 low. The hourly structure is negative.
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