The single European currency expectedly took a breather and corrected a little against the main uptrend. The corrective move reached about 70 pips. So far, there are no serious reasons for the Euro's fall. However, there is some interest in selling, especially given that buyers demonstrate some uncertainty while debt issues of most European countries still remain high on the agenda. The market dynamics are additionally adjusted by end of the financial year and profit-fixing before outcomes become known.
09.30 GMT today: Great Britain publishes its banking data; 15.00 GMT – US Wholesale Inventories. The Volume Analysis Department within the Mastrеfоreх-V Academy defines for the current trading session:
Medium-term trend of ЕUR/USD: rising
Short-term trend of 6EН1 (EUR/USD) futures:
The current week's level at 1.3894 with a volume of over 7,300 lots serves as one of the reference points for the European Session. It should turn into a support for the rising dynamics to continue. However, if sellers manage to trade it down and get stabilized below in, we should expect a corrective decline.
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