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Asian buying, US stock rebound help turn EUR/USD

By   || September 28, 2009 at 12:35 GMT
|| 2 comments || Add comment

After getting smacked in Asia, EUR/USD has taken back some lost ground. Initial support from the German election in early Asia soon led to risk aversion as the Iranian situation took center-stage. More missile tests on the eve of talks with the US and other permanent members of the UN Security Council leads most to conclude Iran won’t be very conciliatory in Geneva on Thursday.That helped push stocks lower in Asia and sent EUR/US to fresh lows at 1.4561.

A rebound in US equity futures after a fresh round of mergers activity combined with solid buying by Asian central banks helped send the pair back up in its range.

Look for stops above Asian session highs at 1.4720 near-term. We trade now at 1.4660.

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2 Responses to “Asian buying, US stock rebound help turn EUR/USD”

  1. Burt on September 28th, 2009 12:41 GMT

    Morning Jamie
    I saw last week somthing about a web metting you will take part in , will this be forex related ? if so is it open to the public ?

  2. Jamie Coleman on September 28th, 2009 12:46 GMT

    Good morning Burt. Here is the info. Space is limited, apparently. Yes, it will be forex related.. http://blog.currensee.com/2009/09/forex-sentiment-and-volume-a-new-dimension-in-market-analysis/

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