Day: October 15, 2011

October 15
2011

Best Week for Euro in Years

The euro posted the biggest weekly gain in more than two years as the unexpected optimism of Forex traders about ability of the European leaders to deal with the problems of the region spurred the currency to the highest level in several weeks. The promise of German Chancellor Angela Merkel and French President Nicolas Sarkozy to find a mean to resolve the debt crisis of the European Union was welcomed by FX market participants, except for bears, of course. The downgrade of Spain’s credit rating […]

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October 15
2011

Forex Technical Analysis for Week 10/17—10/21

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3022 1.3199 1.3540 1.3717 1.4058 1.4235 1.4576 GBP/USD 1.5287 1.5406 1.5612 1.5731 1.5937 1.6056 1.6262 USD/JPY 75.31 75.81 76.49 76.99 77.67 78.17 78.85 EUR/JPY 99.40 101.07 104.11 105.78 108.82 110.49 113.53 GBP/JPY 116.47 117.79 119.94 121.26 123.41 […]

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October 15
2011

Canada’s Dollar Ends Week with Big Gain

The Canadian dollar ended this week with a big gain as the optimism caused by the G20 meeting and the good fundamentals in the US helped the currency to attract attention of investors that looked for higher yield. The G20 meeting has started yesterday in Paris. The leaders of the Group of Twenty gathered to discuss the debt problems of Europe and a way to deal with them. Investors put high hopes on this meeting and the resulting risk appetite spurred stocks, commodities and riskier […]

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