As reported by «Market Leader» (US)
6ECONT and EURUSD: rather up than down.
Over the last few days the common European currency has made a consolidation effort, updating the local high at 1.4010. Today’s trading session may indicate whether the indefinite movement will turn into a flattish pattern within the 1.3878 – 1.3920 range or EURUSD will manage to conquer new heights, forming a solid bullish impulse.
This week’s market movements can be influenced by FOMC meeting minutes, which are to be released on Nov 3rd at 19.15GMT.Most analysts consider the current condition of USD as rather weak. That is why in the short run we may witness the consolidation of the US Dollar against other major currencies. The investors’ attention is focused on how often and in what volume the Fed Reserve is going to implement the measures of “quantitative weakening”.