Filed Under:
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - The EURUSD is essentially consolidating the August/September rally from the 1.20 area, with a positive broader near term trend, "but the underlying foundations of the EUR rally seem weak still considering recession pressures in the Eurozone economy and the risk of renewed ECB easing", wrote analysts Greg Moore and Shaun Osborne, skeptical of a stronger sense of fraternity of the Euro leaders after the Noble Piece Prize awarded today to the European Union.

"On the charts, EURUSD remains better supported and this week's test of the low/mid 1.28 area (200-day MA at 1.2838) effectively keeps the bias towards the topside in the near-term at least", wrote TD Securities analysts, pointing to a short-term range break out if gains extended above 1.3030/50.
comments powered by Disqus