A concise chief currencies pair abstract

According to the latest Forex update again on Friday the Euro (EUR/USD) went up, gaining more than 100 pips and closing just below the 1.4000. Before moving back the pair busted above the 1.4000 and reached 1.4050.The pair gained more than 500 pips for the week as USD weakened across the board. Concerns about the U.S. creditworthiness add another reason for traders to move away from the greenback, moving forward the majors higher.

On Friday the Pound (GBP/USD) moved higher gaining another 85 pips and closing above the 1.5900 level. The U.K. revised GDP figures showed that the economy shrank by 1.9% as the preliminary released projected.

The Aussie (AUD/USD) gained approximately 50 pips as USD continues to take a beating. On Friday Gold prices posted a silent gain closing above $957 an ounce. The Aussie closed the week trading higher than the 0.7800 level and moving forward over all of the daily simple moving averages.