Tuesday, January 19, 2010

Euro's fall

The euro fell broadly on Wednesday, hitting a four-month low against the dollar on concern about Greece's fiscal problems and breaking below a key chart level that could signal a bearish trend for the currency.

The euro's slide below its 200-day moving average of around $1.4296 initially gave investors a technical sign to sell the currency, and its break below $1.4250 and the December low near $1.4220 later triggered loss-cutting orders and sparked broad euro-selling, traders said.

Strategy: Sell on rallies~

1 comment:

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