Forex News – 3rd November 2011

The Greek Referendum is on, scheduled for 04/12/11.

G20 meeting commences today with the ECB rate announcement and press conference are today’s
highlight. Although the rates are not expected to change, there is a far chance of a +25bps
rate cut later on in today’s session.

EUR was taking the heat yesterday as the FOMC revealed no details about further QE, sending
EUR/USD, sending the pair to $1.3663 low. The rate will be announced at 12:45am GMT, the press
conference is scheduled for 13:30 pm GMT.


A bleak H&S is being painted on 4hr chart, GBP/USD. A break under the neckline ($1.5880) will send

the pair into a whirl of heavy sales, targeting the $1.5700 mark.

Main release is at 09:28 am GMT, Services PMI. Should the actual figure come below 50.0 traders will

flee the pound and immediate drop will be seen in most GBP pairs and crosses such as GBPUSD,


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Although the data has been collected from reliable sources Bloombex does not vouch its accuracy
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The review is presented for instructive purposes in condition it will not be the key factor for trading.
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