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EUR/USD Extends Drop Despite Good Signs

September 22, 2011 by

EUR/USD extended its yesterday’s drop as risk aversion, spurred by the FOMC statement, continues to affect the Forex market. The fundamentals today weren’t very bad, actually, as jobless claims decreased and leading indicators rose.

Initial jobless claims decreased to 423k from 432k in the week ending September 17. The actual value was near the forecast value of 419k. (Event A on the chart.)

Leading indicators increased 0.3% in August, following the 0.6% increase in July (revised from 0.5%). Forecasts promised a 0.2% increase. (Event B on the chart.)

EUR/USD for 2011-09-22

If you have any comments on the recent EUR/USD action, please reply using the form below.

2 Responses to “EUR/USD Extends Drop Despite Good Signs”

  1. aamal

    any body know what will hapen with the eurusd the next week? to make longs toward 1400?

    Reply

    admin Reply:

    It will probably bounce upward, but I doubt it will reach 1.4000.

    Reply

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