EU Morning Report – Merkel visit to Athens as expectedWednesday, October 10th, 2012
§ Gold (XAU) fell from 1777.45 to 1762.70 US dollars (USD) an ounce.
§ Oil rebounded to 91.87 from 89.96 dollars a barrel. Nevertheless, the overall price action still remains bearish.
§ The British pound (GBP) fell for a second day against the US dollar (USD) from 1.6030 to 1.5994. The break below 1.60 is expected to pave the way for lower lows.
Stay in tune throughout the day with foreign exchange bullets!
|.||EURUSD||1.2935||SHORT @ 1.2935||37% of deals buy EUR|
|.||USDJPY||78.45||SHORT @ 78.45||97% of deals buy USD|
|.||GBPUSD||1.6050||SHORT @ 1.6040||33% of deals buy GBP|
|.||AUDUSD||1.0180||LONG @ 1.0180||38% of deals buy AUD|
|.||GOLD||1771||SHORT @ 1771||66% of deals buy GOLD|
|.||OIL||91.00||SHORT @ 91.00||51% of deals buy OIL|
|.||EUR||06:00||German Whosale Price Index m/m in September||0.5%|
|.||USD||14:00||Wholesale Inventories in August||0.5%|
The US dollar (USD) has been strengthening versus the Swedish krona (SEK) over the past few days and managed to break through a previous major resistance area around 6.6900. This breakout is a bullish signal and even though a minor retracement is likely, higher highs should be expected.
Written by Easy-Forex