View Full Version : EUR/USD Daily Fundamental Analysis 24 May 2012

05-24-2012, 07:56 AM
Good morning all,

The EUR/USD hasnít closed below $1.26 since July 2010 and remained vulnerable to further declines, as fears of messy Greek exit from euro zone dominate the news. Traders will continue selling the euro rallies and eventually targeting the next major support level at 1.25 and even deeper to 1.20ó1.22 area.

The European Union leaders meeting urged Greece to stay in the euro-zone, but it did not help the euro. The common currency remains in a bearish trend.

The Australian dollar held steady on the day at $0.9750-mark and the major currencies reacted little to China's factories weak data.

Happy trading all ;)
Read more http://www.mbcfx.com/news/news_en24_05.html