Excerpt from: Forex Analysis
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| January 27, 2010 | | Euro in forex trading | The risk trade has been under pressure all night in currency trading, with the Aussie one of the few bright spots, and even that is fading as risk aversion overwhelms the rally. The euro has been struggling in forex trading, heading lower.
However, there are hopes that the euro has found support at 1.4000. The euro has been losing ground to the U.S. dollar on continues risk aversion, and the situation in Greece hasn't been all that helpful, either.
It will be interesting to see what happens as the day progress. While euro seems to have support at 1.4000 for now, continued risk aversion and economic concerns could actually send the 16-nation currency plunging through that level.
| Topic Tags: currency trading, economy, euro forex trading, forex trading, Greece, risk aversion, risk trade | |
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