Forex Analytics from LiteForex of 08.11.10: Euro declines under the pressure of risk aversion by investors

The pair EUR/USD is traded downward at the Forex currency market on Monday morning amid risk aversion by investors.
 
By 10.50 Moscow time the Euro is at 1.3959 against closing session level on Friday of 1.4032.
 
News from Ireland will make market participants feel anxious: the European commissioner Mr. Rehn will arrive in Ireland today to discuss cut in budget costs and the taxes increase in the country – formerly Ireland announced these measures to reduce tension in the budget deficit. 

Elections are taking place in Greece which also put pressure on the market: according to the preliminary data the ruling party is winning in the local elections.
  
Traders will continue to analyze events of the last week, in particular news about 2 and the rates of the ECB and the Bank of England. The day is going to be quiet in terms of macro-statistics.

Most likely the pair EUR/USD will not go beyond the range of 1.3900-1.4020 at the trading session on Monday.