Forex Analytics from LiteForex of 15.11.10: Euro goes down under the pressure from Ireland

Forex Analytics from LiteForex of 15.11.10: Euro goes down under the pressure from Ireland

The pair EUR/USD is traded downward at the Forex currency market on Monday because investors continue to be concerned regarding the economic state of Ireland.

By 10.30 Moscow time the Euro is at 1.3667 against closing session level of 1.3691 on Friday.
At the end of last week market actively discussed issues concerning Ireland: when will it ask for help from the European Union, how deep-rooted are the problems in the country's economy and in which way all these together will impact on the rate of the European currency.

The day is going to be significant in this respect - the spread of the Ireland's bonds in pairing with the German standard is worth watching in order to determine the level of players' prejudicial view. The indicator growth will mean that the rate of the Euro will be in the descending trend.

The data on Eurozone and the USA will be released today which will affect the volatility of the trading session. Most likely the pair EUR/USD will not go beyond the range of 1.3600-1.3800 on Monday trading session.

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