Market Leader informed
This week the common European currency has been moving in both directions within a widening flat, the range of which is 400pts. At the moment EURUSD is moving towards the upper border of the flat. EUR is currently growing because numerous investors have decided to sell USD. Some of them have done it for the 2nd time after taking profit from the price movement caused by China’s interest-rate increase. The market shows a decline in risky sentiments while USD indicates overall weakness.Today’s significant news releases are to come out at 8.00GMT (EU), 8.30GMT (GB) and 14.00GMT (US).
The Department of Volume Analysis, Masteforex-V Academy, has defined the following market dynamics for today, Oct 21st 2010:
The mid-term dynamics is flattish
The short-term dynamics of 6ECONT:
1.3920 may become a crucial point at the current trading session. The level has a volume of more than 38 lots. If the price tests the level, breaks through it and consolidates above it, this will be a good bullish sign. A downward movement from the level will confirm the continuation of the flat.
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