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Forexpros.com Daily Analysis - 06/05/2009

Discussion in 'Fundamental Analysis' started by ForexAnalysis, May 6, 2009.

  1. ForexAnalysis

    ForexAnalysis Contributing Member

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    EURO/USD is expected to swing and slide for today
    EURO/USD made the drop to 1.3248 and then rose to a high 1.3332 - a wide range swing to induce traders to make buy after rise and sell after fall.Also the rise in EURO and slide in GBP is to rise EURO/GBP cross before making further drop in the cross.
    EURO is expected to slowly swing and slide for today before making the rise from tomorrow and Friday.

    GBP/USD is expected to swing and slide more

    GBP/USD made the drop to 1.4995 and then rose to a high 1.5120 - a wide range swing to induce traders to make buy after rise and sell after fall. Also the drop in GBP and rise in EURO is to rise EURO/GBP cross before making further drop in the cross.
    GBP is expected to slowly swing and slide for today before making the rise from tomorrow and Friday.

    Analysis by: http://www.Forexpros.com - Written by Dr.S.Sivaraman

    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time
     
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