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forexchief

Market express: EUR/USD continues to rise due to stoploss order

Discussion in 'Diskusi Forex' started by ikonfx, Dec 31, 2010.

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  1. ikonfx

    ikonfx Banned

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    0655 GMT-- EUR/USD rise dramatically to 1.3340,closed at 1.3286 in the New York session Thursday. A trader from foreign bank in Singapore said, due to investor’s stoploss order, the euro against the Swiss franc and against the yen were higher.

    The trader said, out of position sizing at the end of the year, market participants who previously shorted euros were buying euros currently.

    But he said the volume was not very large, the first resistance of euro against the dollar was expected to be seen at $ 1.3370.

    EUR/USD surge also pushed the exchange rate of euro against the Swiss franc. EUR/CHF rose to 1.2490 Swiss francs, and closed at 1.2430 in the New York session Thursday; EUR/JPY rose to108.62 yen, and closed at 108.34 yen Thursday.
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