Home » Euros to Pounds Daily Chart » Euros To Pounds – Daily Forex Analysis 7th September 2009

Euros To Pounds – Daily Forex Analysis 7th September 2009

A mixed week for the $uros to poundsex pair, ended with a bearish flavour, following Wednesday and Thursday’s down candles, with a final much smaller down candle on Friday. Indeed Friday’s candle ended as a small doji, with the close finding some support from the 14 day moving average, suggesting that the recent reversal lower may now be over, and that we could see a resumption of the rally in due course, with a further attempt to breach the stiff resistance now in place immediately ahead at the 0.8850 region and above. For a sustained move higher we have to see this pierced and then broken for any further upward move, and this may prove to be too much for the pair at present. If this is the case then we could see a period of consolidation in the 0.8850 to 0.8450 price region which may well present several swing trading opportunities as prices move back and forth in this region.

The week starts quietly for $undamental newsthe economic calendar, with only two items in Europe and one in the UK, and with the US and Canadian markets closed today for Labor Day, $orex marketsl generally be quiet. I have covered the fundamental news items in more detail on the relevant sites with the euro trading news and the UK news.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.