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EUR/USD with new record ahead US Thanksgiving Day

By:   FS Team
  • 2007-22-11
0
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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.


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