Forex: Euro grows up a bit in the Forex against U.S. dollar
On Monday morning the single European currency has strengthened a little on the interbank forex market (forex) against the U.S. dollar against the backdrop of statements by politicians of the EU that the probability of default for the problem of Greece is low.
EU Commissioner for Economic and monetary policy, Mr. Almunia last Friday tried to moderate the hysteria indeces investors and said that “a default in the euro area does not exist.”
By 10:00 Moscow time the euro in forex worth 1.3882 against the level of closing on Friday at 1.3863.
Even last week, we noted that the panic on the currency market, where traders are faint from a single word “Greece” in any context, is not justified because the current situation in this country and in Portugal has been laid in prices currency platform. We also note that during the last session, the euro fell to 1.3853, the minimum mark July, under pressure including the supportive data on U.S. GDP for the IV quarter.
Today we await data from the UK and in the afternoon - the United States (personal spending and income, the basic consumer price index, index of business optimism ISM and construction costs).
It is worth emphasizing that the line of 1.4000 euros, while maintaining an enabling environment and strengthen the trend is likely to stumble on a strong resistance. If it is overcome, then the next mark will be interesting 1.4020. While we are proponents of cautious optimism.
Estimated range of trades from a pair of EUR /USD at today - 1.3850-1.4000.
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