By
Fx V-room |
Fundamental Analysis | Dec 21, 2009 12:00AM GMT |
Risk aspects are reversing with gold retreating and the dollar strengthening. The NFP this month was risk positive as well.
Coming into the New Year, positioning has been dollar short, which is helping with the dollar recovery. You could say, for now, the dollar is back in “recovery” mode.
We’ve broken through some major supports and we may have some room to go still. With the dollar closing below the 1.4800 area, we may still see some dollar recovery. But how long will this last? We aren’t out of the woods yet, so it will be a watch and wait game for a while.
Please see the attached file.....
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