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EUR/USD will move upward again the key news before
By: FS Team - 04-04-2008
0votesEUR/USD (1.5675)
European & US sessions forecast levels: 1.5560/1.5810
Trend Sessions: European: Upward
US: Neutral/Upward
Market Focus: 8:30 AM Non-farm Payrolls, Unemployment Rate, Hourly Earnings, Average Workweek, 1:45 AM French Government Budget Balance, 5:00 AM German Factory Orders.
Daily Strategy: After the strong movements from yesterday the dollar is again under new pressure due too the expecting poor US non-farm payrolls and unemployment rate. There are many buyers ready to buy euro against the dollar at the levels of 1.55. For today the dollar can fall to levels of 1.5760/70 the key news before. If the reports are worse than the forecast we can see levels of 1.58. The trading strategy today is opening long positions, as buy on dips.
Next Analysis: Recent US Jobless Claims data suggest today's US employment report could be the worst in recent memory. How will the USD react?
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