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Ikon forex "USD index left low and might got a rebound to 79.00-10 in short term"

Discussion in 'Forex Discussions' started by ikonforex, Jan 19, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
    Likes Received:
    After Tokyo decided its interest rate on Thursday (January 20), USD index went further and reached the lowest point of the previous night at 78.30, so far it had rose up to above the highest point of the previous night at 78.74.
    Some forex analyst pointed out due the slump of the EU and US stock markets as well as the slump down early in the Asia forex market, the USD index got a further rebound.

    The focus of the forex market would be at the economic data from China in this forex trading session, and if the performance was not quite good, the USD index would get a rebound to 79.00-10.

    This forex analyst thought only if the USD index got back to the trading range of 79.00-10, the slump down pressure in short term would be smoothed.

    On the other hand, even though the forex price of EUR/USD reached above 1.3500 in the previous night, but if it wants to open another round of surging up trend, more support was needed and it should be closed at above 1.3500. If this forex price fell below 1.3350 within this forex trading session, then it might further go down to 1.3300.

    The USD index was at 78.76, and the forex price of EUR/USD was at 1.3438/40 at 08:56 Beijing time.

    Edited by Laura in Ikon Group.

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