Forex analytics of LiteForex of 27.10.2010: the euro continues technical correction

On Wednesday morning in the currency market (forex) The EUR / USD pair is decreasing continuing technical correction from the mark of 1.40 and it hasn’t been able to consolidate the positions higher than this mark.

By 7.45 MSK EUR costs 1.3813 against the yesterday’s market close level of 1.3857.

Last intraday maximum the euro could reach was the level of 1.4050 but the pair hasn’t been able to consolidate its positions higher than 1.40. Now buyers will have to wait more attractive levels for purchasing; recovery of the EUR growth is not excluded from the level of 1.3750.


Yesterday strong statistics on the U.S. supported the USD: thus the level of The U.S. Consumer Confidence Index rose to 50.2 points in October while the market was waiting for growth to 49.9 points.

There will be a lot of statistics from the U.S. today but the news flow starts in the afternoon. The data on durable goods orders in the U.S. in September and the number of sales of newly built housing in the U.S. in September as well as the data on oil stocks for the week are planned to be released.

Most likely the EUR / USD pair will bid within the range of 1,3750-1,3950.