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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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The Euro remained under pressure in Asia

Article By: ,  Financial Analyst
November 9, 2010 2:35 PM

 

EUR/USD

Range: 1.3836 – 1.3928
Support: 1.3805
Resistance: 1.3975
The Euro remained under pressure in Asia having dropped more than 80 pips against the Greenback since the open, setting a fresh 7 day low at 1.3836. EURUSD continues to trade close to the lows, currently around 1.3870 which consolidates a 0.40% daily loss. It is amazing what a week can do; as this time last week all the talk was about the Fed’s stimulus package, however the focus has now changed, with more and more reference to the record 10 year spreads on Irish debt, and fading confidence within Spain, Greece and Portugal.

 

 

USD/CAD

Range: 1.0030 – 1.0065
Support: 1.0010
Resistance: 1.0155
The Loonie lost ground against the Dollar yesterday, on the back of weaker than expected Housing stats (a total of just 168K). Most of the CAD weakness can be attributed to a slight drop in crude oil prices, which until the middle of last week had enjoyed a very strong run higher in November. Tomorrow will prove a critical day for the pair as the BoC Governor, Carney will discuss financial reform.

 

USD/JPY

Range: 80.71 – 81.23

Support: 80.60
Resistance: 82.00
The Yen is losing momentum once again, after the strong spike seen earlier this Morning. USDJPY dropped around 50 pips toward 80.75 before rebounding. USDJPY has slowly recovered part of the lost ground and is back around the 81.00 price zone, where it posts a 0.21% loss thus far. The upside seems limited at the 81.60 resistance level; a break of this level is needed to swing bias higher and set up a retest of the 82.00 level. On the downside a break of 80.50 is needed to test the 80.20 region.

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