Daily Review 22/03/2010
USD Dollar (USD) – The Dollar strengthened against most majors after the Dow Jones Industrial Average fell for the first time in nine days, damping demand for safety assets. NASDAQ and Dow Jones decreased by 0.71% and 0.35% respectively, crude oil weakened by 1.8% closing at 80.68$ a barrel, Gold(XAU) weakened by 1.78% closing at 1107.6$ an ounce. Today, Treasury Sec Geithner Speaks.
EURO (EUR) – The Euro recorded its biggest weekly drop against the Dollar since January as concern Greece will fail to secure financial assistance from the European Union lowered appetite for the currency. The EUR/USD has been trading downwards in the last three days therefore a sort position is preferred, the main support is 1.3450. Overall, EUR/USD traded with a low of 1.3503 and with a high of 1.3627.Today, ECB President Trichet Speaks.
EUR/USD – Last: 1.3515
Resistance 1.3545 1.3625 1.3695
British Pound (GBP) &ndash