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EUR/USD: Euro is being corrected due to statements of G20
The pair EUR/USD is traded upward at the Forex currency market on Friday morning in respond to the statement of “BIG 20”.By 9.30 MSK the Euro is at 1.3493 against yesterday’s closing level of 1.3464.So, the heads of the largest twenty countries stated on Friday morning that they are ready to an urgent and “coordinated” international response to new challenges of global economy”.
Final communiqué said that “the countries are determined to take all necessary steps to preserve stability of the banking system and financial markets if the need be”. The main topic of discussion was the situation in Europe and its debt crisis- yesterday European and American indices fell to annual lows.
Despite the fact that EU, ECB and the U.S. FR have implemented packages of measures aimed at stabilizing the situation, the growth of risks in the world requires new measures. It is quite possible that the Euro has just been technically corrected after the sales of this week, using this minor information as a ground for correction. Most likely the pair EUR/USD will not go beyond the range of 1.3380-1.3530 at the trading session on Friday.
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