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Whether the dollar recovery will continue today

By:   FS Team
  • 17-12-2007
0
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EUR/USD (1.4436)

European & US sessions forecast levels: 1.4355/1.4495

Trend Sessions: European – Downward/Neutral

US – Neutral

Market Focus: 8:30 AM Current Account, NY Empire State Index, 9:00 AM Net Foreign Purchases, 4:00 AM EU Services PMI, EU Manufacturing PMI.

Daily Strategy: The dollar will remain strong against the euro today after the inflation report that send signal to the Federal Reserve to stop with the interest rates cut. The momentum of the dollar will continue during the European session today. The today’s strategy is to open short positions. The dollar has to break below 1.4355 to continue with deeper recovery against the euro.


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Next Analysis: US Inflationary data strengthen dollar. Japanese business sentiment at 2 year lows.
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