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eToro weekly review 22nd December 2008

eToro weekly review 22nd December 2008

by mitchell posted Dec 22nd 2008 at 01:41AM weekly review 22nd December 2008 weekly review 22nd December 2008

This week has really been one for the books at eToro.

The Euro skyrocketed, the Yen also made some ground against the USD and overall the market rose and fell like a turbulent sea, which is in fact great news for any eToro trader worth his salt. So let's see what all this action was all about shall we?

First of all, congratulations to all you lucky eToro traders who bought some EUR/USD at the beginning of the week, seeing as this was the biggest weekly gain of the Euro over the Dollar since the Dollar begun its miraculous recovery.

Shame if you missed it, but if you had bought the EUR/USD at eToro as the week began at a rate of around 1.3, you would've had the opportunity to sell at over 1.4 at the end of it - and that's no small potatoes.

It's highly suggested that all you eToro traders out there keep an eye out next week for a backlash against the Euro, since investors are bound to lose confidence in this still struggling currency.

And as we switch our focus to the other side of the globe, the news doesn't seem to be as positive for the Japanese yen.

Although last week eToro traders saw a steady strengthening in the Japanese currency, the sentiment of the Japanese government indicates that they consider the value of the Yen to be too high and they are plotting an unprecedented intervention. Watch out for further news on this subject, as it is bound to have major effects on the market.

Overall, a superb week to be trading with eToro, with more of the same caliber action likely to follow next week. Look out for the launch of the eToro accounts program in the coming weeks so as to not miss out on all the extra benefits.