EUR following the Script? | Forex Factory

  • EUR following the Script?

    From oanda.com

    Papandreou clinched enough votes to pass the first part of an austerity plan aimed at meeting EU aid requirements and staving off a default. The EUR did what most anticipated, rally up towards 1.45 as residual speculative shorts are closed. Now what? According to the script, upside momentum is expected to stall around these levels as markets turn their focus to this morning’s Greek vote on implementation of the various fiscal measures, weekend discussions on private sector participation in the 2012 bailout, and risks around key US PMI data due out tomorrow. On the flip side, the EUR is certainly looking prettier ... (full story)

Comment Options
tranco
Jun 30, 2011 6:35am
Permalink
Pound it lost all its correlation on 3th party assets with EURO
If you compare f.x EUR/JPY GBP/JPY or EUR/CAD GBP/CAD etc. etc
Even in the recovery EUR it thrusts upwards but Pound does not, as it did in the past
That means GB it is on its way to face large economy crises and Pound runs out of steam.
That’s the first indications that something is wrong!

Look back (2 years ago) GOLD/USD to see what I mean

GBP/USD it looks like reaching the areas of 17570 before a recovery if any!!
Reply

  • Related Stories

There are no posts to display for these settings.
  • Story Stats