The euro retreats against all majors before European Union Leaders meeting

By @ibtimes on

The shared currency continues its decline versus the greenback and other majors, after the expectations that estimated the European Union to get a permanent stimulus for the debit crisis in Euro-zone according to the today's meeting. However, the euro will continue its downside movement against the greenback to reach the lowest level in a week.

The euro-dollar pair started today's session with a decline, where the pair trades around 1.4083, recording a high of 1.4109 and a low of 1.4070, while the pair faces a support at 1.4040. The momentum indicators give selling signs.

Turing to the British pound versus the US dollar which dropped during today's Asian session, trades around 1.6224, recorded the highest at 1.6265 and the lowest at 1.6223, while the pair faces a support at 1.6180. On the other hand, the daily indicators show the pair in an overbought area, supported the pair's downside movement during the session.

The dollar/yen pair rose the Asian session, and now the pair trades around 81.00, recording a high of 81.04 and a low of 80.82. The pair faces a support at 80.70. The daily give selling sings.

Join the Discussion