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Forex Trading: EURUSD staying above moving averages

Posted by Greg Michalowski on Wed, 03/19/2008 - 7:21am in

EURUSD

The EURUSD tested the 100 and 21 hour moving averages and bounced rather quickly to the 1.9720 area. It demonstrates the desire to sell the dollar on moves higher.

Overnight, the Eurozone Trade Balance was released. Exports to the US declined for the 1st time since 2003 and the Trade Balance showed a worse than expected deficit of 2.0B on a seasonally adjusted basis.

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