Good day to you.
Summary of events in the two past days:
The difference between Republicans and Democrats of America regarding plans to increase the ceiling on government debt finally reached a compromise.
Although the increase of the debt ceiling brought a temporary relief to the economic crisis of the US, many economists believe that a permanent solution is still lacking.
Italy the third largest economy in the euro zone faces a debt challenge and the Italian financial authorities began an emergency meeting on Tuesday to review the economic situation in this country.
An expert on Italy's economic problems said: "The engine of this crisis is in fact the sale of bonds which in turn causes the value of the stock market to fall down." Some experts believe that the Euro Zone will not be able to prevent the debt crisis from reaching Spain and Italy.
From a technical perspective:
The EUR/USD started to rise after the recent loss and now has reached an important resistance area which the currency pair repeatedly in recent weeks has responded to. If it succeeded in breaking the 1.4340 resistance and close above it, an upwards trend may continue in the coming days.
Have a nice time.
Masoud.
Masoud is a businessman and a Senior Forex Koala. Connect with him at our page on Facebook.
Related Forex Articles from the Koala Forex Training College.
Related Forex Articles from the Koala Forex Training College.
