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Adventures of a Trader in the Forex Land (7) – EUR USD

eurusd-image-doitinvestcom-currency-trading-adventuresAt the beginning of the month we were talking a bit about the EURUSD currency pair and its evolution. We have anticipated a bit then by saying that the most traded currency pair in the world, as known as the cable, might not grow further, despite the boiling in the market.
By now, any decent currency trader has found out that the cable pair went down from the resistance level at 1.42 to 1.3, with a good chance to break the latter too. Well, yes, some traders might say that noone could anticipate the Ireland problems and its $85 billion bailout, huge by any means. Especially when you compare the amount with the Ireland GDP, this is one of the largest bailouts ever in the financial history of the world.
We have anticipated that the EURUSD currency pair will go down and this happened. Bragging on it would be non-sense – we at looked at the history and the environment and anybody could have done the same. Yet, the EURUSD volatility is not over and we might see the currency trading in the area moving again on upwards, once the dust settles on the Euro area. Let’s wait and see…

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