We’re just a couple of hours into the start of the Forex trading week and already we’re seeing clear evidence that it’s going to be another difficult week for the euro, with selling of the single European currency hot on the agenda of many traders at ForexYard and other brokers. Last week saw many difficulties for the euro, losing ground against many of its counterparts as various problems from numerous EU member nations weighed heavy on its fortunes and this week is no different as the euro continues its market slide.

The EUR/USD closed in New York on Friday at 1.4150 but with two hours of the Asian Forex markets opening today the pairs had slid over 50 pips, trading as low as 1.4095 before making minimal recoveries. The pair will receive support around the 1.4047 point, which is the monthly low for the EUR/USD.

The week ahead for the EUR/USD offers some interesting reports and publications from the US and Europe that will affect the fortunes of the currency pair. We will hear GDP revisions for the Q1 from both the US and major European economy, Germany. There will also be news of jobless figures, unemployment claims and consumer confidence from the US and reports regarding industrial orders, durable goods orders and income reports from Europe during the week ahead.

If you want to try your hand at trading Forex in a bid to profit from the fortunes of the EUR/USD or other currency pairs visit www.forexyard.com. ForexYard is one of the internet’s most popular and trusted online Forex brokers, who offer a huge choice of currency pairs along with tight spreads and a reliable trading platform so head over there today.

Related posts:

1. Euro Vs US Dollar Tug-Of-War
2. Forex Traders Avoiding The Euro
3. Euro Falling Against The US Dollar
4. Euro Currency Pairs Fell
5. Euro Currency Pairs Sliding Again

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