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Day: June 30, 2012
June 302012
EU Summit Drives Weekly Currency Moves, Euro in Favor Again
The major even, leading the Forex market this week, was the summit of the European Union leaders on June 28–29. The weakness of the euro, which was prevailing for the most part of the week, was erased by the end of the meeting. Not many market participants believed that the summit would bring any noticeable result and that depressed mood pressured the euro to the downside. The skepticism made the positive reaction even stronger when it became evident that […]
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June 302012
Forex Technical Analysis for Week 07/02—07/06
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2198 1.2302 1.2483 1.2587 1.2768 1.2872 1.3053 GBP/USD 1.5324 1.5404 1.5554 1.5634 1.5784 1.5864 1.6014 USD/JPY 77.58 78.35 79.07 79.84 80.56 81.33 82.05 EUR/JPY 96.07 97.19 99.13 100.25 102.19 103.31 105.25 GBP/JPY 120.76 121.80 123.55 124.59 126.34 […]
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June 302012
Franc Follows Euro in Gains, EUR/CHF Closes Flat
The Swiss franc advanced, following the euro in gains. The Swissie fell versus the shared European currency itself, but quickly recovered and ended the session flat. The European summit and agreements that European politicians reached during the meeting sparked euphoria among investors. The leaders of the European Union outlined steps for closer integration of the banking system of the Union. They also eased the debt burden on Spain by allowing banks direct access to the bailout funds. The lawmakers […]
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June 302012
CAD Gains on Traders’ Euphoria After Summit
The Canadian dollar jumped against the US dollar and the Japanese yen, demonstrating the biggest advance this year, as risk appetite ruled the Forex market after the conclusion of the two-day EU summit. The currency closed weaker against the euro, but the losses were limited. The meeting of European Union leaders has ended and the result was unexpectedly good. The European chiefs showed willingness to fight the crisis and to take actions. The problems of the eurozone are far from […]
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