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The Greenback Might Go Bear Localy.

Yesterday the EUR/USD pair experienced a highly volatility and finished trading session with mixed results versus its major rivals. The EUR/USD bounced up and down during most of the day, finally closing at 1.4773 level, unchanged from the day prior. Overall, it lost 0.2% vs. the EUR yesterday when it declined to $1.4773 from $1.4747. The greenback may fall to $1.50 per EUR in a few days should it weaken below $1.48.
Expectations for the near future look to hold unclear characteristics as the upcoming US calendar doesn’t look to have much that can help revive USD bulls once again. Yesterday’s slightly bearish dollar trend was especially concerning due to the lack of market moving economic events both from the US and the Euro-zone. As it seems now the greenback light depreciation comes mainly on the heels of traders fearing the US economy woes are not over.
From the fundamental point of […]

Original post by Forextvblog

This entry was posted on Thursday, August 21st, 2008 at 2:32 am and is filed under Crude Oil, currency trading, 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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