The common European currency is recovering relative to Wednesday’s lows, having reached 1.3950 at the Asian session. Expectations of accommodation policies and rumors about the decline of USD after QE2 make numerous investors get more and more interested in EUR, providing it with mid-term support. The current trading session indicates middle trading volume. The volatility may rise during the macroeconomic data releases on the EU (9.00GMT) and the US (12.30GMT).
For today’s trading sessions the Department of Volume Analysis of Masterforex-V Academy defines:The mid-term trend of EURUSD is bullish
The short-term dynamics of 6E futures (EURUSD): At the moment the currency rate is retracing from today’s high, having tested the level of the week’s volume at 1.3864 (10500 lots). A breakout and a settlement below the level will provide a bearish prompt. In general the volumes indicate the downward intraday dynamics of EUR. It means that the trading logic is simple: looking for sales after there is a rebound.
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2 comments:
who knows... after published Sorros and Bufet comments euro can go anywhere...
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