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The traders turn their look over the European economy
By: FS Team - 08-04-2008
0votesEUR/USD (1.5745)
European & US sessions forecast levels: 1.5695/1.5810
Trend Sessions: European : Neutral
US: Neutral/Upward
Market Focus: 10:00 Pending Home Sales, 14:00 FOMC Minutes.
Daily Strategy: In an absent of key economic data the speculations move the forex market. The traders turn their look over the European economy that send the first signals for slow growth and starting crisis in some of the banks. The credit crisis from US comes in Europe. The most important for the Europe economy and for the investors is how deep will be affected Europe by the world biggest economy crisis. The dollar remains under pressure and is expecting to close to the record low levels against the euro very soon. The trading strategy today is opening long positions, as buy on dips.
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