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Aussie and Kiwi Close in Position to Make New Highs Next Week

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Jul 18, 2009.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    Sellers took it easy on the Dollar on Friday following a week which saw the greenback give back much of its recent gains. Stronger appetite for higher yielding assets fueled by better than expected earnings reports and perceptions that the U.S. economy would recover sooner rather than later contributed to the weakness.
    Despite the weaker Dollar, the individual Forex markets stayed within their June to July ranges and all merely mounted percentage retracements of these ranges.
    Traders pressured the GBP USD late in the week following a retracement to 1.6452. The main trend is down and this week’s rally and subsequent break may be signaling that a secondary top is forming.
    Read full article at ForexHound.com as well as Forex Analysis, Forex Education and exclusive timely market Gann Analysis

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

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