The pair EUR/USD is going down at the Forex currency market on Monday morning due to investors turned to safe assets – the USD and Yen amid aggravation in geopolitical tension in the Middle East countries.
By 9.40 Moscow time the Euro is at 1.3669 against closing session level of 1.3694 on Friday.
Thus, the “fire of freedom” in the Middle East flared up and is getting hotter: unrest continues in Bahrain, Libya, Iran and investors fear that the riot will spread into the countries, which are still undisturbed, hedging risks in precious metals and safe currencies.
Amid such background China has introduced country’s censorship by blocking the internet phrase “jasmine revolution” in order to prevent possible unrest.
As long as the Euro is above the level of 1.36, its decline seems temporary. If the pair goes down below the key level, it will indicate the continuation of the medium term descending trend.
Most likely the pair EUR/USD will be in the range of 1.3580-1.3720 at the trading session on Monday
[More]