Forex Analytics from LiteForex of 11.11.10: Euro is recovering moderately;

The pair EUR/USD is traded slightly upward at the Forex currency market on Thursday amid new highs of the Yuan, recorded this morning and in advance of the summit G20, where inadmissibility of the currencies devaluation is going to be discussed again.
 

By 10.50 Moscow time the Euro is at 1.3789 against the closing session level of 1.3783 yesterday. Summit of the "Big Twenty" will start today in Seoul and it is assumed that representatives of the largest countries will again discuss the issue of currencies devaluation and the impact of these processes on the world economy.

The USD today is under pressure from the Chinese Yuan, which upswings to the highs since 1993 - apparently China tries to demonstrate to the world that they work on their currency revaluation issue in order to avoid collisions with the USA in the future.
 

Important statistics which can affect trading process is not scheduled for publication today, therefore currencies will move in accordance with the
external background, taking into account that the Euro is oversold, for example.
 

Most likely the pair EUR/USD will not go beyond the range of 1.3700-1.3940 on Thursday trading session.

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