EUR/USD (1.5641)
European & US sessions forecast levels: 1.5565/1.5720
Trend Sessions: European: Downward
US: Neutral/Downward
Market Focus: 4:30 AM Sentix Investor Confidence, 6:00 AM German Industrial
Production.
Daily
Strategy: The dollar up to 11-days high against the euro.
The recovery started on Thursday after Trichet comments that the raise of 25
bps of Euro Zone interest rates is enough to cover the high inflation. In spite
the recovery of the dollar in the coming weeks we are predicting the dollar to
trading close to 1.60 against the euro again. Currently we see profit taken on
the forex market. The situation in the US economy will become worse in the
coming weeks. It is possible to see euro/dollar at the levels above 1.60 in a
short time.
Forex Forecasts by FS Team
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