Forex market focus G-20, IMF and World Bank meetings today april 20 2012

forex trading outlook today - Forex market focus G-20, IMF and World Bank meetings today april 20 2012 : The single currency is trading almost unchanged on Friday, ahead of the German Producer Price Index and the IFO index. Prior surveys expect a slightly lower reading in both headlines.

After yesterday's choppy session, the single currency has managed to remain above the 1.3100 mark, after a decent Spanish bond auctions, which saw higher yields albeit stronger demand.

Thin docket in Europe as German data are only expected and there will be no releases in the US.Market investors will focus their trade in the G-20, IMF and World Bank meetings starting today.

As of writing, the cross is up 0.10% at 1.3156, with the next resistance waiting at 1.3190 (MA21d) ahead of 1.3201 (high Apr.13) then 1.3204 (MA55d) and 1.3213 (high Apr.12).

On the downside, a breach of 1.3058 (low Apr.18) would expose 1.2995 (low Apr.16) then 1.2992 (Lower Bollinger) and 1.2974 (low Feb.16).

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