Forex Zone (Forex Zone)
Czech markets  |  August 10, 2012 10:49:52

Emergency plans and at their own disposal

U.S. regulators ordered five largest banks in the United States to develop plans that would avert a collapse in the event that got into serious trouble. Emphasis was placed on the banks in their plans are not done with the support of government. According to available data, U.S. regulators have demanded these recovery plans in May 2010.
Some time ago we informed you that the regulators want the banks also plans to help banks sell regulators if they would fail. These plans are required within the package of legislative reform Dodd-Frank.

Speaking of U.S. banks and top state prosecutor's office yesterday in the U.S. said they will not take legal action against Goldman Sachs or its employees in connection with allegations that the company planted against securities based in subprime mortgages and selling them to its clients. Although the Senate investigative committee spent more than a year examining Goldman Sachs, the prosecutor said: "Intelligence Agency's Office and ultimately concluded that the evidence does not satisfy the requirements forburden under the applicable laws and facts that are available. "

As regards developments in the monitored pair EUR / USD, so that yesterday before the publication of the macro data from the U.S. declined to Support around 1.2340, for which we have pointed out . During the American session the market continued to fall and created low daily several pips below 1.2282 support, to which we also pointed out . There has been so anticipated by usscenario from earlier this week that will be tested 1.2300 level.

Currently we see more potential for prices to test levels around 1.2240. 1.2300 level is important for us to support. I am inclined rather to test the direction of prices above the 1.2500 level. As a less likely option at the moment we consider that the price will test the low trading range around 1.2150.

For today we have a clear conviction about the direction of prices. We expect some movement between supports of 1.2240 and 1.2200 and 1.2170 around and resistance around 1.2330 and 1.2360 and 1.2400 around.

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