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The USD Continues to Rally

The Greenback traded with mixed results last week as the turbulent relationship between the USD and the EUR grows even stronger. The oft traded pair saw record highs towards the end of the month of April. Since, the pair has faltered by just under 4%. The 1.6019 mark set on April 22nd saw it largest drop off in the middle of last week, when the pair dropped to the 1.52 support level. Forex traders looked prime to ride dollar bullishness, even as the progress halted going into Friday’s market closing.
The US dollar reacted mainly to investor interest, as the economic data from America was mixed last week. Forex traders have regained some much needed confidence in the USD even amidst ongoing US economic concerns. The futures market is posting bullish trends by traders for the first time since late 2005 in regards to the US dollar. To add […]

Original post by Forextvblog

This entry was posted on Monday, May 12th, 2008 at 4:21 am and is filed under currency trading, analysis, forex, Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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