Forex Market Updates & Commentary

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• Moody’s downgrades Cyprus to Baa3
• Unnamed minister expects coalition government by Monday if confidence vote is won
• EURUSD looks to next target at 1.3788
• Greek Parliament begins session for confidence vote
• Friday Forex Wrap up October 4 2011 Rebroadcast
• EURUSD takes a stab at the topside as London looks to exit

Moody’s downgrades Cyprus to Baa3 Posted: 04 Nov 2011 12:35 PM PDT

Unnamed minister expects coalition government by Monday if confidence vote is won Posted: 04 Nov 2011 10:21 AM PDT The Greek Parliament is debating the confidence vote of Papendreou currently. The vote is not expected until after the NY close today.

EURUSD looks to next target at 1.3788 Posted: 04 Nov 2011 10:18 AM PDT

Greek Parliament begins session for confidence vote Posted: 04 Nov 2011 09:16 AM PDT The vote is expected to not take place until after the US market closes today. This increases the weekend risk for traders.

Friday Forex Wrap up October 4 2011 Rebroadcast Posted: 04 Nov 2011 09:15 AM PDT 11:00 AM Friday Forex Wrap up with Greg and Shawn - Register now

EURUSD takes a stab at the topside as London looks to exit Posted: 04 Nov 2011 09:00 AM PDT The EURUSD was able to move above the 1.3737-44 level and that was enough to force some covering toward the London close.  Now with support at the old resistance, traders will look for the next upside target at the 1.3770 level.  This is the 38.2% of the days range.  I would expect sellers against this level on the 1st test.

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