EUR/USD Forecast Dec. 9th, 2011, Technical Analysis

The EUR/USD pair fell during the session on Thursday as the world first reacted positively to the rate cuts out of the EU, only to be disappointed by the lack of bond buying in the press conference statement. Because of this, the Euro had a very rough day, chopping traders up in the process. The pair has a decidedly bearish tone at the moment, and all eyes are on the EU summit and any possible solution coming out of it. However, the leaks and rumors are suggesting that there is a lot of disappointment coming for the markets, and as such we don’t trade this pair until the announcements come out, as there is simply too much risk in either direction currently.

EUR/USD Forecast Dec. 9th, 2011, Technical Analysis EUR/USD Forecast Dec. 9th, 2011, Technical Analysis

2 thoughts on “EUR/USD Forecast Dec. 9th, 2011, Technical Analysis”

  1. Wrong. You didn’t anticipate EU conference importance. Like Obama said. EU are not a poor countries. And they can find a solution. My reaction was Bullish and I got over 100 pips so far

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