Day: March 26, 2011

March 26
2011

Week of EUR/USD Weakness

The euro declined versus the US dollar this week as the summit of the European Union leaders brought the disappointing results, making market participants question the ability of the EU to resolve the debt crisis. Still, against some currencies the euro managed to post gains. On Monday the euro retained its upward momentum from the previous week. The currency reversed its trend on the next day and started a decline. The EU summit began on Thursday, helping the euro to rise. […]

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March 26
2011

Forex Technical Analysis for Week 03/28—04/01

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3817 1.3935 1.4011 1.4129 1.4205 1.4323 1.4399 GBP/USD 1.5503 1.5755 1.5897 1.6149 1.6291 1.6543 1.6685 USD/JPY 80.08 80.40 80.86 81.18 81.64 81.96 82.42 EUR/JPY 111.61 112.58 113.58 114.55 115.55 116.52 117.52 GBP/JPY 126.63 128.40 129.43 131.20 132.23 […]

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March 26
2011

Stronger US Economy Brings Dollar Higher

The US strengthened on the speculation that the solid growth of the US economy will make the Federal Reserve to remove the stimulus and increase the interest rates. The US gross domestic product grew 3.1 percent in the last quarter of 2010. That’s compared to the previous estimate of 2.8 percent and the forecast of 3.0 percent. The claims for unemployment benefits decreased to 382,000 from 387,000 last week. Analysts suggested a decrease to 388,000. Federal Reserve Bank of Philadelphia President Charles […]

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