Daily Market Overview: EUR/USD

Source: Dukascopy
© Dukascopy
Daily maximum: 1.3441
Daily minimum: 1.3286

The shared European currency moved higher today versus the American dollar as optimism concerning a closer monetary union in Europe grows among investors, piercing the market mean at 1.3326. Daily Resistance: 1.3384; 1.3454; 1.3580. Daily Support: 1.3258; 1.3202; 1.3076. The daily trading stance remains bearish.
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Tue, 29 Nov 2011 16:57:20 GMT

Daily Market Overview: EUR/JPY

EUR continues its recovery as the EU leaders are working on new steps to restrain the contagion of financial problems from the core economies and move the Eurozone towards a more financially integrated monetary union. Daily Resistance: 103.24; 103.62; 104.00. Daily Support: 102.48; 102.10; 101.72. The market outlook for the rest of the day stays strongly bearish.

Tue, 29 Nov 2011 12:32:55 GMT

EUR/USD is making a correction

The current rally of EUR/USD is only temporary and is expected to fade once resistances at 1.3418 and 1.3457 are encountered. The weekly outlook is therefore negative with the possibility of the currency pair sliding down to 1.3145, then 1.2860 and ultimately 1.20.

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