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EUR/USD Update 29 Nov 12

Good day forex traders.

Welcome to another EUR/USD update by The Forex Koala. Dear readers while there was no update for a few days, if you notice my comments continued on the latest article. Therefore do always come back. Even if there is no new article, i do comment on further updates and reply readers on the comments section of the last article!

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Looking at the EUR/USD 4 hourly chart above we do note that the bulls have made a come back from below 1.29. The 1.3 region which proved to be a strong resistance so far is tested again. The situation is like last week and it seems that the market is trying to bring the currency pair up.

Fundamentally we are seeing good economic data of growth from the US and the world in general. A report stated that the world economy is in it’s best shape in 18 months. Having said so, apprehension due to the Euro Zone woes cannot be ignored and will continue to exert a drag on the EUR/USD.

Trade safely and watch out for unexpected moves due to the end of trading week tomorrow.

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