Bad news from Eurozone do not allow euro to compete with dollar, as pound sterling does. Yesterday’s attempt to break down the resistance of 1.2830 failed, since all the hopes for the recovery of quotations of European currency were destroyed by ECB president M. Dragi with his not so positive speeches and high unemployment in the region (approximately 11,5%) and a huge unemployment in Greece (24,5 %) and Spain (24,8%).

In fact dollar is giving in right now on market, but American stock markets continue their fall, that began after the re-election of Barack Obama, which demonstrates the pessimistic attitude among traders and investors. The pessimism always led to the growth of dollar, so it is possible that current weakening of the dollar is in the moment will come to an end and we will see the continuation of descending trend of EURUSD pair.

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