Back to the Forex Alerts day's list
Alert - 17:40 (CET) - Euro hits historical highs against the Sterling
|
The Sterling is back to the bad news path, after the housing sales registered their worst reading since 1978. This made the EurGbp to hit historical highs at 0.8213 against the Sterling.
This situation only confirms the weakness of the real economy of the UK which, after the big rate cuts made by the BoE last week, opens the door for a larger rate cut. So, the Sterling has also lost ground against the Dollar, losing 1.5% this session.
As a consequence, the GbpUsd is near the 1.5400 Dollars per Pound, recovering from the intrasession lows at 1.5373, near the annual low at 1.5265.
The EurGbp is trading at 0.8154, contemplating the supports at 0.8070 (November 7th, 2008 low), with the next supports at 0.8000 (November 6th low) and 0.78108 (October 31st, 2008 low). The traders are watching the next resistances at 0.8213 (intrahour high) and, if broken, they could try to hit the next at 0.8300 and 0.8400.
|
|
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.
|