Monday, March 22, 2010

Trichet's comments have supported the European currency

Euro / dollar is rising after the British pound. Dealers noted that the comments of Jean-Claude Trichet on Greece provided significant support for the pair. Trichet said he expects complete the Greek government measures in full. ECB President also noted that the Greek government considers the decision courageous and convincing, and expects that all financial market players are aware of the credibility of plans for Greece. Trichet also called an absurd escape probability of a country from the euro area. Euro / dollar rose to a sessional maximum on the level of $ 1.3563. The next important resistance dealers put a mark of $ 1.3582, where the 61.8% Fibonacci correction after rising from $ 1.3437 to $ 1.3816 - this level acted as support in the reduction pair.

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