Day: May 29, 2007

EUR/USD Rally and Rollback after Consumer Confidence

Euro showed a really fast and heart-breaking (for some traders at least) rally of 100 pips today before the major daily fundamental event — May Consumer Confidence Index. After hitting its resistance level at 1.3517 EUR/USD calmed down a bit rolling back to 1.3500 level. May Consumer Confidence Index which came out to be 108.0 against 104.5 expected ended Euro rally moving EUR/USD to 1.3475 level. Many […]