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Momentum May Be Shifting in Dollar

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Oct 9, 2009.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com


    It was a volatile week for the U.S. Dollar. However, a strong comeback on Friday allowed the Dollar to finish lower for the week, but well off of its lowest level.

    For the week, the EUR USD managed to finish higher but off its high for the year at 1.4843. The European Central Bank left interest rates unchanged and predicted a rocky recovery.

    The GBP USD finished lower for the week. Comments from Bernanke are making it look like the U.S. economy will recover well ahead of the U.K. economy. The Bank of England left interest rates unchanged at 0.50%. In addition, the BoE decided to maintain its asset-buyback program. The chart indicates that 1.5272 is the next major downside target.

    Read full article at ForexHound.com as well as Forex Analysis, Forex Education and exclusive timely market Gann Analysis

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