Trend Following EUR-GBP Live.3
| 11 July 2011
http://www.youtube.com/watch?v=CwlYbKL0HkI
This video analysis and report supports our market view dated the 4th towards the currenct market condition. The ripple effects on the contagion as Italy and Greece have both shared the limelight on the crisis leaving investors worried have actually triggered the current price movement on the European currencies.
These reports have contributed to other financial markets & commodity curreies such as the Aussie and Kiwi. Cable & Euro related cross rates have shared the negative sentiments of the market making the USDX again as the choice for quality safe haven currency.
The Asian opening higher for the the USDX would continue to have a spillover effect for the mid-week as volumes and fresh positions would increase. Thus Leaving enough leg room to move higher is currently being done. Although, seen by others on a short term basis; this rally is above its trendline and resistance levels as shown on the weekly chart of the USDX.
Currently, Euro at the 1.4210 maintaining a fairly flat price for the opening of the week is heading lower. For a complete report and recap of our please view our market view report on our website. the sequence of events and market view analysis can best be appreciated starting from the April 2011 up to the current market conditions especially focused on the EURUSD, GBPUSD, EURGBP cross rates and the USDX. And our article dated June 15, 2011 calling an " FX Volatility Confirmation on Price & Trend Reversal" on the European pairs and cross rates.
