As we can see from the above, EUR was dropping inside the downtrend channel. However, as the channel is quite deep, the "certain level" I mentioned above would be at around 1.3914, which is expected to reach in around two weeks.
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Tuesday, February 9, 2010
Save Greece? or Budget-Deficit-Reduction? (2010-02-09 EURUSD analysis)
EUR has finally stopped dropping after the news that Greece would seek help from European banks. Though Greek insisted on her deficit-reduction plan, to maintain the value of EUR, European Central Bank could hardly ignore the great depreciation and let it be. Such act would probably bring EUR to a certain level.
As we can see from the above, EUR was dropping inside the downtrend channel. However, as the channel is quite deep, the "certain level" I mentioned above would be at around 1.3914, which is expected to reach in around two weeks.
As we can see from the above, EUR was dropping inside the downtrend channel. However, as the channel is quite deep, the "certain level" I mentioned above would be at around 1.3914, which is expected to reach in around two weeks.
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