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Day: May 7, 2011
May 72011
Forex Technical Analysis for Week 05/09—05/13
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3469 1.3888 1.4101 1.4520 1.4733 1.5152 1.5365 GBP/USD 1.5850 1.6101 1.6233 1.6484 1.6616 1.6867 1.6999 USD/JPY 77.43 78.50 79.55 80.62 81.67 82.74 83.79 EUR/JPY 107.59 111.39 113.42 117.22 119.25 123.05 125.08 GBP/JPY 124.64 127.77 129.83 132.96 135.02 […]
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May 72011
Week of Woes for Euro Behind, Uncertainty Ahead
This week was really bad for the euro as an impressive rally of the previous weeks quickly turned into a sharp slide, reducing optimism of euro bulls and making them question sustainability of the current price level. The shared European currency attempted to hold its ground against the dollar and even rallied against the pound, but any signs of strength waned and the currency abruptly fell after the European Central Bank announced that it’s maintaining […]
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May 72011
Greece May Renounce Euro
The euro posted the biggest drop in a year after speculation that Greece may refuse using the shared 17-nation European countries renewed concerns for stability of the Eurozone. Greece’s Finance Ministry denied these rumors, saying that the country isn’t considering to stop using the euro as its currency. The unscheduled meeting of the European financial officials to discuss the restructuring of Greece’s debt will be held today in Luxembourg. Greece will be likely asking […]
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