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Forexpros - Financial Markets Worldwide
Feb 13, 2012 04:08AM GMT
     
 
  New York   London   Tokyo 
   
 

EUR/USD with new record ahead US Thanksgiving Day

By   |  General Overview  |  Nov 22, 2007 12:00AM GMT

     
     

    EUR/USD (1.4857)

    European & US sessions forecast levels: 1.4775/1.4935

    Trend Sessions: European – Neutral/Upward

    US – Neutral

    Market Focus: 5:00 AM Euro Zone Industrial New Orders. It is a market holiday in USA, Thanksgiving Day.

    Daily Strategy: Most of the traders sell the dollar ahead the US market holiday today. It is a usual step ahead the holiday, as the traders expect to continue the dollar weakness during the holiday and to avoid any losses. That cause during the Asian session the dollar to set new record low against the euro at 1.4872. First the dollar fell to 1.4869 during the US session. The dollar weakness will continue based on many speculations about the US economy weakness, Fed interest rates cut and the expecting deep crisis in US housing sector. The strategy today is to expect new record with break above 1.49. If not happen today it will be the movement after the US holiday.

    Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

    Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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