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The lack of major economic reports encouraged Forex investors to take a look at...

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Jul 13, 2009.

  1. forextrends24

    forextrends24 New Member

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

    Last week the EUR USD, GBP USD, USD CHF, NZD USD, USD CAD and AUD USD all posted weekly closing price reversals. In the cases of the Euro, Pound, Australian and New Zealand Dollar, the chart pattern was a reversal top. The Canadian Dollar and Swiss Franc produced closing price reversal bottoms.

    For the most part, the strength in the U.S. Dollar last week and most of today was related to investor perceptions that the U.S. economy was going to be the first economy to work out of the recession. Investors also kept upside pressure on the Dollar as rumors swirled that the Federal Reserve was contemplating raising its benchmark interest rate by the end of this year.

    The Fed is expected to keep silent on this matter until at least June 24th when it convenes at its next FOMC meeting. In this meeting it may offer suggestions as to how it plans to exit this current round of easing.

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

    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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