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Rising Stocks, Commodities Trigger Turnaround in Euro

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Jun 26, 2010.

  1. forextrends24

    forextrends24 New Member

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

    The Euro rallied late in the trading session after an early session setback. Advances by U.S. stocks and commodities triggered a surge in demand for riskier assets.

    The EUR USD started the week strong but overbought conditions and fresh concerns about the European banking system following a downgrade of BNP Paribas by Fitch stopped the rally, triggering a technical closing price reversal top.

    Later in the week, fresh economic data showing a slowdown in the U.S. economy and a dovish comment by the Federal Reserve helped stabilize the Euro, forcing it to trade in a range most of the week.

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

    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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