25, March 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

If they do not come to any agreement on the financial support of Cyprus, whose financial sector faced difficulties, the ECB ceases to provide assistance to banks of the country. Still the euro is likely to fall because of the news connected with the crisis and the recession in the euro zone, that was published in March. Eurozone PMI composite index started to fall into the negative zone.

Boris Schlossberg from New York VC Asset Management, said that the euro still keeps its positions above the support line 1.2850. Experts noted that, during the first half of March, EUR / USD was attached to the level 1.3000 and the price was being traded in the range 1.2960 - 1.3100.

We are unlikely to see the EUR/USD above 1.3500 to the U.S. and Europe, whereas there was a difference in the economy. Most likely, the euro will remain around 1.2900.

Since early February the pair lost 810 points. Although the markets have a view that the euro could undergo reassessment.

At the moment EUR/USD above $ 1.2850, which holds the eurozone in turmoil.


At 21:15 MSK a speech, Fed Chairman Ben Bernanke.