Stocks and Dollars

The Australian economy expanded in the third quarter of the fiscal year less than the market’s expectations, as the nation’s exports (one of the main pillars for economic growth) retreated, which affected by the strength currency.

The euro slipped further on Wednesday and stocks in Asia were struggling, despite stronger-than-expected manufacturing data from China, as fears of a wider euro zone debt crisis grew.

On Tuesday the Euro/Dollar continued decreasing significantly with over 180 pips. The European currency depreciated from 1.3151 to 1.2967 yesterday, matching the negative Interbank sentiment projection at around -6%, closing the day at 1.2980. This morning trading is quiet and without clear direction for now. On the 1 hour chart

On Tuesday the Euro/Dollar continued decreasing significantly with over 180 pips. The European currency depreciated from 1.3151 to 1.2967 yesterday, matching the negative Interbank sentiment projection at around -6%, closing the day at 1.2980. This morning trading is quiet and without clear direction for now. On the 1 hour chart

The EURUSD continued its bearish momentum yesterday, bottomed at 1.2968 and closed at 1.2995. The bias remains bearish in nearest term targeting 1.2920 especially if price make another break below 1.2968. Immediate resistance at 1.3055. Break above that area could lead us to neutral zone in nearest term testing 1.3100

The EURUSD continued its bearish momentum yesterday, bottomed at 1.2968 and closed at 1.2995. The bias remains bearish in nearest term targeting 1.2920 especially if price make another break below 1.2968. Immediate resistance at 1.3055. Break above that area could lead us to neutral zone in nearest term testing 1.3100