SubscribeDaily Forex Commentary for April 17, 2009
April 17th, 2009 • Related • Filed Under
April 17, 2009
Euro Investors Lose Confidence as ECB Schism Develops
The weak close in the EUR USD has this market in a position to breech the 1.3088 support and send this market to at least 1.2945 over the near term. The current weakness can be attributed to a combination of a weakening chart pattern and loss of confidence by investors with the European Central Bank policymakers.
Currently the EUR USD is finding support at 50% of the recent rally from 1.2456 to 1.3737. This support price is 1.3097. This …
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