The forex charts of the Euro fell against the dollar at $1.3568 in early Monday’s forex trading amid concerns that the social unrest in Egypt could be spread in the Middle East, something that caused investors to concern for a possible disruption of oil production. The euro declined against the yen at 111.38 during the morning session, while gold fell by $10 per ounce to $1,335.
However, Euro managed to recover during the European trading session and currently is negotiating at 1.3640 against the USD and at 112.06 against the Japanese Yen. The EURGBP rate is at 0.8590 and the EURCHF at 1.2852. The USDJPY is currently at 82.15.
The GBPUSD rate should break two important support levels and should close below them in order to indentify a possible constant downward move. The upward trendline and the moving average of 100 days are located around the level of 1.5800 – 1.5830 which means that if the pair breaks the 1.5800 level the downward trend will continue further to the level of 1.5750 and 1.5665. Currently the GBPUSD is negotiating at 1.5874 with high of the day the 1.5885 and low the 1.5821.
This news post was written by Chris on January 31, 2011