Forex Zone (Forex Zone)
Czech markets  |  September 27, 2012 10:11:06

After fine in Spain, in Greece comfort

Under beautiful sunny weather yesterday in Greece, a general strike. Pictures were similar to those we saw on Tuesday from Spain - hordes of police, fire, violence. Holt everyone enjoys a sunny day on their own. But just as the Spaniards and Greeks protest or help. They should accept the fact that there dairy milk too and will have to "suck" less.

We noticed an interesting report in the Wall Street Journal, which reported that the AssemblyThe EU voted to introducing a number of rules that will control the high frequency trading (HFT). The proposal was developed in Germany, which argues that HFT algorithms bring instability in the markets. Top of the rules should establish registration, collecting fees for excessive use of HFT methods and the introduction of circuit breakers on the stock exchange, which would reduce the risks associated with HFT. We'll keep our fingers crossed that the whole initiative HFT lobby neosekalo to the minimum necessary and the wolf is so ripe and eat it whole.

As regards developments in the monitored pair EUR / USD, so that yesterday tested the Asian session low yesterday. At this opportunity we announcedand simultaneously with it, on the support around 1.2830, which is formed near the low and of which the price is reflected several times a day. This morning, the price reached the resistance around 1.2895, for which we also pointed out, and where we ended our long trade from 1.2865.

Today comes on the market a large number of macro data (especially at 14:30) and so it is difficult to define clear expectations. We expect that the price will still want to test below yesterday's low. We can not see yet is distinctive entry into the market of shoppers. In case the message causes the macro trend of movement, we expect that the price can be up on the support around 1.2790 and 1.2750. Direction above the current market price (1.2890), we see significant resistance around 1.2920 and about 1.2955 and 1.2980.

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