Forex Zone (Forex Zone)
Czech markets  |  July 24, 2012 10:14:09

There was also a strong core area

Moody's last rating outlook cut to negative three eurozone countries that still have the highest rating of AAA. These are Germany, Netherlands and Luxembourg. Moody's comes with a delay of several weeks after the lower the credit rating agency Egan Jones, but gives practically the same reasons for a negative outlook. These include increased risk due to the greater likelihood of exit from the euro area of Greece. Even if Greece left the euro area, the country's strongest commitment to grow. The burden to save the most problematic countries falls just to the countries with the highest rating. The only country that has not been reduced to a negative outlook, Finland.According to Moody's promoted as the only guarantee for their guarantees.

As regards developments in the monitored pair EUR / USD, so that today, rather than consolidating our expectations and showed a similar trend as for most of last week - ie the sale before the U.S. session and during strengthening, which in turn created a candle with a long day lower shadow indicates that the accumulation of long positions.

We can not help feeling that a long-term player (i) the accumulated annual lows around great position, but the development of prices still remain below direction. Today's macro data from the euro area and EU Member pair EUR / USD nezahýbala too. At 10:00 we expect macro data production index area, which in case of surprise could bring significant movement. At 14:45 will the U.S. Fed chief Bernanke. Since it is not a major show, so do not expect too much market reaction.

Currently pair EUR / USD traded at 1.2105 price. Below this level we see significant short-term supports of about 1.2080 and about 1.2030 and 1.2000. Above the current market price, we see significant resistance around 1.2160 and 1.2200 around.

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