EUR/USD Midweek Review 9 Nov 11


Good day forex traders.
I would like to provide a midweek update on the EUR/USD. Thing are definitely getting interesting. Interesting in this instance, i mean RISKY! We are now sailing through rough waters and i hope the life jackets ( Proper money management ) are available 🙂
Looking at the EUR/USD chart above, we note that the currency pair have been trading in a range since the start of the week. This is an indication of an undecided currency exchange market, probably due to apprehension. A current bearish momentum is underway and if 1.36 fails, 1.34 may be a target. 
Despite optimism earlier in the week due to the developments in the Euro Zone, mainly the agreement of Italian Prime Minister to step down and the Greek Prime Minister talks on forming an interim government, risk aversion is striking again as Italian bond yields soars. There is much uncertainty regarding the succession plans after these political changes.
Trade safely and remember your proper money management.
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