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Emerging Market Activity Sets Up U.S. Dollar for Rally

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Oct 28, 2010.

  1. forextrends24

    forextrends24 New Member

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

    News surfaced on Wednesday that emerging market central banks may have begun activity to slow down the pace of acceleration in their currencies against the U.S. Dollar and capital inflows into their economies.

    Although these central banks pledged earlier in the month not to manipulate their currencies and to let the market determine their own levels, this concerted effort seems to indicate that something is being done behind the scenes that may help boost the Greenback.

    Based on the December Dollar Index chart, this market seems poised to breakout over the last swing top at 78.61. This move will turn the main trend up on the daily chart and could trigger an acceleration into a downtrending Gann angle at 79.06, then a 50% zone at 79.58.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

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