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Forex Commentary
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The falling inter-bank lending rates recovery the dollar
by Forex Strategy Team
Updated 05:36 GMT, October 21, 2008
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EUR/USD (1.3328)
European & US sessions forecast levels: 1.3260/1.3445
Trend Sessions: European: Neutral/Downward
US: Neutral
Market Focus:
Daily
Strategy: There are not key economic data today. But the traders forget about
the fundamentals these days. The last comments of US Federal Reserve chairmen
Ben Bernanke push the dollar against the euro. The falling inter-bank lending rates recovery the dollar,
as the first signs of recovery by the credit crisis are fact. If the US steps
to recovery of credit crisis continue we may see the dollar at levels of
1.27/28 in November 2008. The
today’s strategy is opening short positions, as sell on high.
Forex Forecasts by FS Team
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