Slowly but surely, the dollar continues to take positions

Written by admin on October 20th, 2009

Thus, the euro-dollar has updated a maximum year, showing a mark 1.4992, and thus struck the last resistance of 1.4960 on its way, being in neprotorgovannoy 1.4960-1.53 zone. However, faster growth is not yet happening, apparently hampered by the fact that the 1.50 mark is a psychological barrier. But we continue to believe that the completion of the approach of growth can be expected only when the euro will show two or more pulsed daily candles (height of 150 points or more). Meanwhile, the euro at the daily charts is growing slowly, but steadily, indicating a struggle, and volumes. Once faith indeces bears in the fact that the euro-dollar will not stop, will be broken, the pair immediately quickly and without volume fly up. In principle, the hope of bears like to eat. Because, on the one hand, all markets are growing absolutely no apparent reason, but on the other hand, no one believes in the longevity of the current optimism. However, this did not prevent oil prices rise to new highs this year, 80.5 dollars per barrel mark WTI.

ECB President Trichet yesterday at a conference this after a meeting with euro zone finance ministers in Luxembourg, has once again expressed concern about excessive volatility in currency markets, meaning, obviously, adversely affect the growth of the euro against the dollar on the economies of the euro area . Here, however, it should be noted that other currencies, the euro is not growing. Euro to Australian dollar fell to its pre-crisis levels, the Canadian dollar to the euro several months at least to the Japanese yen The euro is at levels of 2004, euro-yen at around 135, although the couple before the crisis reached almost 170. Oh who ought to complain about the way the exchange rate, it is Japan. But, as we have heard from the Minister of Finance of Japan, interventions aimed at weakening the yen will not, Japan is offering to refrain from the devaluations of the race itself sets a good example. And the Eurozone actually do not complain, in recent months, showing faster growth commodity currencies, so that the competitiveness of European manufacturers in recent months, only grows. So the euro without any apparent reason, apparently, will continue.

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