Forex News – 3rd November 2011

EUR
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.

GBP

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,

GBPJPY and GBPCHF.

The publication cannot be distributed, copied and/or make any other usage without Bloombex Ltd.
Consent and written approval.
Although the data has been collected from reliable sources Bloombex does not vouch its accuracy
or precision. The quotes mentioned are for indication only, the implied conditions will only be the concluded
conditions when executing the trade.
The review is presented for instructive purposes in condition it will not be the key factor for trading.
The contents of this publication should not be construed as an express or implied promise, guarantee
Or implication by Bloombex.

Share This Post

Related Articles

© 2017 Global Forex Update.com. All rights reserved. Site Admin · Entries RSS · Comments RSS
Powered by WordPress · Designed by Theme Junkie