Euro Loses the Most Amid Tight Trade

Daily Forex Fundamentals | Written by Crown Forex | Nov 28 08 12:38 GMT |

Currencies are still holding still in tight ranges of trade especially as Americans are still out the markets celebrating Thanksgiving. The euro though was the biggest loser amid those majors as it lost grounds against the US dollar on further signs of weakened economic activity in the Euro Area that pushed inflation rates strongly to the downside and pressures unemployment to rise. The euro continued the downside trend especially as still its trading below the 23.6% correction; the euro it trading still at it intraday lows against the dollar as the pair breached the 1.2850 to head to the 1.28 levels at the lower Bollinger Band over 4-hour basis and extending the decline might take the pair as low as 1.27 in the coming days. Sterling continues within the same range trading tightly around 38.2% correction the pair again did not manage to breach 1.5450; the downside is now supported by the 20 4-hour MA that the pair is trading at extending the decline might be seen below the set intraday low at 1.5340 yet with tight range of trade the 1.5280 might be the most to be seen. The USDJPY is still hovering tightly below the 95.60 and continues to be biased to the downside yet with low volume the pair might continue to fluctuate in a tight range and might be bard to extend below 95.0 levels where till now the pair managed to set the low closet at 95.13. Crown Forex disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.