Euro in Forex Trading

249671 Resource 119247 120646 120646 1265638161786 1265638161786 Controlled Euro Rebounding in Forex Trading Today

EUR/USD moves higher in currency trading

The euro is rebounding in forex trading on the currency market today. The 16-nation currency is showing some strength after a couple weeks of taking a beating. Indeed, even with <a href="http://blog.gftuk.com/public/item/249667" target="_blank" title="sovereign debt, euro forex trading, forex trading, EUR/USD, currency trading, FX market, Boris Schlossberg, FX360">sovereign debt </a>concerns of euro zone nations, EUR/USD is moving higher in currency trading. GFT's Boris Schlossberg offers some insight in FX360 as to why the <a href="http://www.fx360.com/commentary/boris/2772/eurusd-rebounds-on-short-covering.aspx?aid=5704" target="_blank" title="sovereign debt, euro forex trading, forex trading, EUR/USD, currency trading, FX market, Boris Schlossberg, FX360">euro is showing some strength in forex trading</a>: <blockquote> As we noted earlier,” Although the euro remains pressured by the political and fiscal upheaval in the union, the currency is now grossly oversold after declining for 12 out of the last 15 days. The latest data from CFTC shows that euro positioning has turned strongly negative with shorts growing to 43.7K contracts from 39.5K the period prior. The increase in shorts is now at a record in the series and argues for some sort of technical bounce as late comers get squeezed.” The push higher was led by Russians, who are typically very adroit traders of inflection points in the FX market and suggests that for now the <span onmouseover="clearTimeout(tmout); ShowPopup(this,'https://gftnet.gftforex.com/uploads/gbpusd091508.gif','EUR/USD','EUR/USD');" onmouseout="tmout = setTimeout("HidePopup()",1000);" style="color: #004276; cursor: pointer; text-decoration: none;">EUR/USD <img border="0" src="http://www.fx360.com/App_Common/images/chart-icon.gif" /> may have found a temporary bottom at the 1.3600 level. </blockquote> With the <a href="item/249670" target="_blank" title="sovereign debt, euro forex trading, forex trading, EUR/USD, currency trading, FX market, Boris Schlossberg, FX360">U.S. dollar</a> expected to fall back some this week, and with the euro being oversold to the point where a correction is needed, it looks like things could change -- at least temporarily -- for the euro in forex trading. 9 application/xml false Boris Schlossberg currency trading EUR/USD euro forex trading forex trading FX market FX360 sovereign debt Euro in Forex Trading Currency trading on the FX market http://www.gftforex.com/land/?aid=7356 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.1.7) Gecko/20091221 Firefox/3.5.7 GTB6 127.0.0.1 127.0.0.1 mmarquit 63.248.48.57 false true false false true 119247 blog blogsite/GFTForex/web