Forex Analytics from LiteForex of 09.11.10: Euro traders continue to fix profit

The pair EUR/USD is traded downward at the Forex currency market on Tuesday morning; the decline has been going on for the third consecutive session. Despite talk about investors’ concern regarding debt problems in Eurozone, the Euro decline looks like a profit fixation after the rapid growth.
By 10.45 Moscow time the Euro is at 1.3877 against closing session level of 1.3920 yesterday.

Traders go away from risky positions, fixing profit; however market participants are focused on Ireland and Portugal.
Worth noting that flurry in Ireland seems a bit farfetched; no major redemptions are scheduled for the nearest future in the country. Therefore there is no reason for concern so far. Market is just fixing profit.  

The day is going to be quiet in terms of macro-statistics which means that traders will be guided by the external background.
Most likely the pair EUR/USD will be in the range of 1.3800-1.3980 on the trading session on Tuesday.
 

 

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