Market overview for 31th October 2013 EURUSD Near Term

pierreapienaar
By pierreapienaar on Thu, Oct 31, 2013 - 4:16am

EURUSD Near Term: Downside favored

 

 

Time: 31-10-2013 03:54:00

Pivot: 1.3790

Our View: Short position below 1.379. Target 1.37. Conversely, break above 1.379, to open 1.3815.

Comments: The pair hits support and bounces.

Key levels

1.3830

1.3815

1.3790

1.3711 Last Price

1.3700

1.3660

1.3615

WindsorBrokers Ltd. http://www.windsorbrokers.com/en

 

Breaking News

§  31/10/2013 - 07:40

GER GFK Consumer Sentiment M/M OCT 7.0 vs Exp. 7.3 Prev. 7.1.

§  31/10/2013 - 07:36

German Retail Sales M/M SEP -0.4% vs Exp. 0.5% Prev. -0.2%.

AttachmentSize
windsor_31_octeurusd_252.jpeg11.48 KB

1 Comment

Grover's picture
Grover
Status: Platinum Member (Offline)
Joined: Feb 16 2011
Posts: 800
How High Is Too High?

Pierre,

A strong currency makes imports cheaper, but makes goods for export more expensive. That should reduce economic output. In your opinion, at what point will the Euro be too strong? Do the people in Europe support a strong Euro, or wish it to be weaker? Do the PIIGS view it the same as the northern tier of countries?

To me, you appear to be a trader. Traders let the market tell them which direction to play. I'm more interested in your personal appraisal of the situation, not how you're positioning yourself in the markets.

Thanks for any insights,

Grover

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