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The Wild Card Gold 27 Aug 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Aug 27, 2009.

  1. forexqs.blogspot.com

    Aug 20, 2009
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    The Wild Card Gold 27 Aug 2009

    Thursday, 27 Aug 2009

    Dollar Benefits on U.S. Economic Data; Today Traders Focus on the U.S Unemployment Claims

    The U.S dollar gained ground Wednesday against the EUR and the British pound, after strong data on orders for new U.S.-made durable goods and new home sales comforted expectations of an improvement in the economy. The greenback traded higher after the durable-goods orders report said orders for July rose by 4.9%, the largest increase in 2 years. Investors will be watching for the new U.S. jobs report today before making significant moves

    The Wild Card


    There is still a bearish configuration on the daily chart, indicating that the momentum is still down. However, hourly chart's Slow Stochastic is about to enter an oversold territory, indicating that there might be a minor bullish correction before a broader bearish move resumes. Forex traders can maximize profits by selling on highs and taking advantage of a general bearish trend

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