Forex Zone (Forex Zone)
Czech markets  |  October 12, 2012 10:05:02

In Today reports to Tokyo


Today begins the Tokyo meeting of the International Monetary Fund (IMF). As the participants slétávají the Japanese metropolis, give interviews to journalists. We thus have a lot of messages from which you can make views. Opinions may be a nice thing, but the market will eventually be their merciless judge.

For example, a member of the Steering Committee for the ECB's Ewald Nowotny Japanese newspaper said that a centralized bank supervision in the European Union will be delayed at least until the middle of next year.

U.S. Treasury Secretary Geithner on the banking conference that the EU "has a very workable strategy to keep the system together."

And thirdly, we have the actual boss IMF, Christine Lagarde, who stated that the financial system is much safer than in the period around the collapse of Lehman Brothers.

So choose and make your own opinion. Anyway, it is expected that representatives of the IMF, the draw to the media rather pink crayons. Specific agreements, numbers, etc., which could move the markets expect.

As regards developments in the monitored pair EUR / USD, so that yesterday showed nice growth. This confirmed the bullish divergence to which we are warned. Today's Asian session showed a very narrow price range. It will therefore be important which direction prices will breakdown.

For today we expect a consolidation day character. Path of least resistance for the test we perceive the direction of prices. Below the current market price (1.2940) are good supports of around 1.2915 and 1.2900. Above the current market price of the perceived potential for testing the 1.2960 level and another good goal for test we perceive around 1.2990. Major resistance above the current market price we perceive around 1.2980 and about 1.3015.

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