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The dollar starts the week with recovery against the euro

By:

FS Team

2007-12-11

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EUR/USD (1.4631)

European & US sessions forecast levels: 1.4555/1.4705

Trend Sessions: European – Downward/Neutral

US – Neutral

Market Focus: There are not key economic events.

Daily Strategy: The dollar recovery against the euro for first time as many traders closes their long positions. The dollar is at too low levels and most of the traders will start buy dollars at these low levels. The trading strategy today is to sell EUR/USD during the morning European session. If the recovery continues during the US session and the dollar break below 1.4620 and then 1.4550 will signal for starting dollar recovery. Otherwise many traders will be ready to buy EUR/USD again in expectations for levels of 1.50.

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