At the moment there are some improvements in the economical situation in Europe, which helped Euro to push US dollar a little bit down. Last week the price stopped at about 1.40. In the beginning of that week Euro continued going up and was near to reach 3-week maximum 1.417. But, having failed to do that, stopped somewhere around 1.413. The trend is obviously upward, but don’t hurry to set buy order.
A very important thing is, that China has the great reason for defending US dollar – all Chinese reserves are being kept in bucks. And that situation isn’t likely to change in the nearest future. So, dollar has a powerful defence, which can also help to attack Euro. And the situation on the market can completely turn upside down after the Thursday’s news on unemployment in the USA. By the way, the Stochastic is showing, that dollar gonna rise. So, due to that EUR is likely to fall down and break the 1.40 level. The probable place of falling can be determined as 1.38. But at the same time some more positive changes in European economics can easily bring dollar down.
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