A single currency correction amid criticism of its all times high near 1.6 caused a repeated inability to break above it causing a profit taken wave across the broad enforced by a break of 1.588 and the next support is at 1.5758. The singe currency slumped versus the British pound too pushing the British pound to rally in justifying of this pair driving it now to nearly .79 and pushing the British pound to 1.9992 versus the greenback just shy of 2 right now.
No key data this Friday encourages the market correction after the release of the Citigroup loses quarterly report for the third consecutive quarter reached 5.1$ Billion
The financial minister of Luxemburg Jean-Claude Juncker 's comments that the financial markets misunderstood the Group of Seven's concerns about the volatility of major currencies.
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Walid Salah El Din
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