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EUR/USD: Euro have lost momentum for growing correction
The pair EUR/USD is traded slightly upward at the Forex currency market on Wednesday morning.
By 9.35 the Euro is at 1.3335 against yesterday’s closing level of 1.3327.
Investors try to find advantages in the news from Eurozone where the next tranche to Greece in the amount of 8 billion euro was approved yesterday and mechanism of expanding the fund EFSF has been clarified, However, information that the agency S$P has downgraded ratings of large American banks seriously interferes with favourable trading sentiments
In addition to Greece, Ireland will receive a new tranche as well.
Apparently market needs more fundamental basis to continue correction.
Most likely the pair EUR/USD will not go beyond the range of 1.3300-1.3370 at the trading session on Wednesday.
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