View Full Version : EUR/USD Daily Fundamental Analysis 22 May 2012

05-23-2012, 11:42 AM
Hi all,

Bad News Outside Euro-zone sent financial markets lower, the euro dipped to as low as around $1.2643, following comments from Greece’s former Prime Minister Lucas Papademos on the impact of Greece leaving the currency union. The Aussie is suffering on renewed Greek exit fears, the yen declined after Fitch downgraded Japan and Sterling slips as British inflation slows more than expected.

Traders’ attention is turned to European Union leaders meeting today, where France is expected to push for a joint bond proposal to help restore market confidence, the German Chancellor Angela Merkel is expected to oppose.

Only short-covering and profit taking will continue to support the single currency and any significant rally provides opportunity to short EUR/USD.

Happy trading ;)
Source http://www.mbcfx.com/news/news_en23_05.html