Tue, Aug 16 2011, 16:41 GMT |
FXstreet.com FXstreet.com (C�rdoba) ? The Euro made strong moves in the market following the meeting between A. Merkel and N. Sarkozy. They will propose a tax on financial transaction in September. The French president said that the current rescue fund for the Eurozone, is big enough. The EUR/USD initially jumped to 1.4470, reaching a fresh daily highs but it retreated sharply pulling back below 1.4400.
The Euro continues to make vary volatile moves across the board as EUR/USD struggles to hold above 1.4400. Earlier the pair bottomed at 1.4350/55 but as market sentiment improved it moved off session lows.
Recent rally to the upside, was capped around the 1.4470/75 level, where yesterday?s high lie; if the pair rises on top of 1.4475 it would be trading at the strongest level in three weeks.

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Source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=59c210da-0982-432b-8ab5-da5c1f72ab8a
Currency Forex Signals Euro Dollar Market
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