EUR/USD

EUR/USD Forecast Nov. 16th, 2011, Technical Analysis

EUR/USD fell hard on the Tuesday session as worries about Italian debts continues. The 10 year Italian bond has closed above the 7% level, an area that many people consider “unsustainable”. This should continue to fuel the fears in the market, and the Euro will pay as a result. However, the 1.35 level is just below, so selling is difficult at this point. The daily close below that level would have us selling. Otherwise, we are waiting on a bounce to sell. We do not want to own the Euro at this point.

EUR/USD
EUR/USD Forecast Nov. 16th, 2011, Technical Analysis

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