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Fundamental Analysis
Market Analysis by Vistabrokers
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[QUOTE="Vistabrokers, post: 75947, member: 32993"] [B]Euro continues to reach fresh 9 year lows[/B] [IMG]http://s020.radikal.ru/i704/1501/b9/17bd0520e568.jpg[/IMG] The Euro extended losses once again today, failing to find any significant support levels since the beginning of the year. This marks 6 days of straight losses for the single currency against the Dollar. In just over half a year, the Euro has managed to drop some 19 cents – over 13.5% of its June high of 1.3699. Investors are anticipating that the ECB will soon step in and adopt its quantitative easing stimulus in order to attempt to keep the Euro away from its current deflationary status. The pair currently trades at 1.1761 against the Dollar. The recent decline of German industrial orders for November saw further doubt cast on the Euro, pilling on top of already existing concern that a Greek general election on January 25th may lead to turmoil between Europe and Greece over the existing austerity measures, which Greece had previously agreed to. Currently the Euro is anticipated to continue its decline, as we come up to the ECB meeting on the 22/01 and expect more short positions to continue driving down the EURUSD pair. The next strong support level for the pair is seen at 1.1638 – the November 2005 low. The Federal Reserve, in comparison, is expected to raise its interest rates as early as Q1 in 2015, which has further pushed the USD to gain against the Euro as the USA economy has recently shown signs of a healthy outlook. The Dollar climbed above 119.75 Yen as it moved away from a 3 week trough around 118.40, while the Dollar index remained near the 9 year high. [/QUOTE]
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