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EUR/US$

The Euro was unable to hold above the 1.30 level on Wednesday and weakened steadily during the day. The Euro was undermined in part by a downgrading of Russia's sovereign credit rating which increased speculation that there would be further selling pressure on the Russian currency which tends to undermine the Euro. There were also a wider increase in fears over Eastern Europe which had a negative impact.

The European data did not have a major impact with a small downward revision to the PMI services-sector index while retail sales volumes were unchanged in December to give a 1.6% annual decline.

The ECB interest rate decision will be watched closely and a reduction in the main financing rate ...

Written by Brad Zigler
Thursday, 05 February 2009 12:16

Real-time Inflation Indicator (per annum): 7.8%

We've all heard the adage that it's not the fall from great heights that kills a person, it's that sudden stop at the bottom.

Likewise, contango may pinch profits for long-only commodity index investors, but a positive carry literally kills ‘em.

Contango is a condition of the futures delivery curve in which the nearby prices are cheaper than deferred contracts. If, for example, June futures are trading for $48 while March futures change hands at only $42, the market's in a $6 contango.

Long-only index investors don't like contango markets, because negative ...

Investment advisor at Blackmont Capital and friend of Currency Currents, Yves Lamoureux, made a few comments on trading strategy that we wanted to include in today's piece:

From Buy and Hold to Buy and Fold!

Click on the following link to view the latest issue of Black Swan Currency Currents in PDF format.

[SIZE="5"]EUR/USD - Euro Dollar[/SIZE]
1,2796. EUR USD is in a range between 1,2775 and 1,2915. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 1,2775 (21 pips). The price should continue to move in Bollinger bands.
[INDENT][B]Resistances[/B]
1,2915 - 1,3070
[B]Supports[/B]
1,2775 - 1,2700[/INDENT]more information on [URL="http://www.mataf.net/en/forex-eurusd.htm"]EUR/USD - Euro Dollar [B]Click Here[/B][/URL]
[CENTER][IMG]http://www.mataf.net/section/devises/page/images/eurusd.png[/IMG][/CENTER][SIZE="5"]GBP/USD ...