Today, Monday, in many countries such as the U.S., Japan and Canada public holiday, so the exchange will be closed. This situation is diminished liquidity in the market, and therefore can be sharp currency movements and increased volatility. Of important events can be identified economic data on industrial production in the euro area, which will be published during the European session. In connection with the beginning of the week the major currencies, most likely, will show a significant recovery after falling last week.
The EUR/USD continues to trade within the range from 1.3600 and 1.3480 borders. The European currency has opened up and now continues to be traded upward, gradually going up to the upper border of the trading channel. The overall situation in the market is that the U.S. dollar looks stronger and positioned to grow than other currencies. The indicators also point to a further weakening of European currencies. Therefore, we expect the euro limited by a mark 1.3600, above which the pair EUR/USD will fall. Do not forget about the fiscal cliff, to which have less than 4 days, the resolution of the problems the U.S. will support the dollar and strengthen it's position in the market, and while he may be under pressure.
The situation with the British pound is even more pessimistic than the euro. The pair GBP/USD shows a very weak recovery after the fall of quotations. It may be noted that the level of 1.6000 inhibits the growth of the pound. In the GBP/USD pair there is a risk of further falls, support is at 1.5900 . On the dynamics of trade can influence the sudden news on the U.S., which, in fact, are common. Because of the holidays, most activity should be observed during the European session. In the short term, the level of 1.6000 is important from a psychological point of view, a break of this level would provide a good basis for the further correction of the British pound.
Others feel more confident Australian dollar. AUD/USD pair opened with a slight decline, but it has grown by almost 50 points, demonstrating a fighting spirit. The pair is clearly aimed at the level of 0.95, which is important from a technical and a psychological point of view. Big drops and weakening have not touched the Australian. Bulls are serious, so we advise traders to follow the couple and take part in it's unwavering growth.Social button for Joomla