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US Housing report should push the dollar above 1.4750 today
By: FS Team - 20-11-2007
0votesEUR/USD (1.4672)
European & US sessions forecast levels: 1.4580/1.4750
Trend Sessions: European – Neutral/Upward
US – Neutral
Market Focus: 8:30 AM Building Permits, Housing Starts, 2:00 PM FOMC Minutes, 2:00 AM German PPI.
Daily Strategy: The traders waiting for new economic news for the US economy. The main focuses today are the expecting US housing market report and the concerns about the expecting cut of the US interest rates. Most of the traders are sold the dollars and on the market there are not new investors to sell dollars. This is the reason for the dollar flat trading during the last hours. If the trading break above 1.4700 will follow trading close to 1.4750. If the US housing report today is negative there are chances for test of the last record at 1.4750.
Next Analysis: Stock prices fall ask credit woes continue. FOMC minutes set for release
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