The E/U pair currency having failed to break that level four times over the past few days, the EURUSD weakened in quiet overnight trade as bears tried to capitalize on lack on momentum and push the pair below the 1.5900 figure.The matter why the Euro fail to touch 1.6 because its come from the economic data,German Producer Prices reached a 15 month high on rising energy costs.
It may be just a matter of time before the euro bursts through 1.60.Today the Euro/Usd fall below 1.58.. .Maybe will drop again and again.
Maybe the Euro/Usd will continue to bursts to touching 1.6 or more in next month.
The gold price rate fall same as Euro/Usd currency tonight.The highest is 952.20 on thursday and now fall below 918/oz.The Euro/Usd now have same move with gold.Down sharply due to euro weakness against the U.S. dollar and lower oil prices.
Friday, April 18, 2008
Euro/Usd fail touching 1.6 ?
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