Were looking for dollar bulls to give up tonight and allow the dollar continue its slide. We are confident that the next 24 hours may be the push weve been looking for. Yesterdays comments out of Fitch Ratings in regards to the UK possibly being the first to lose their AAA sovereign rating sent the British Pound tumbling almost 200 points. The euro has been able to maintain 1.4980 and we are expecting both pairs to make new recent highs in the next 72 hours. As we mentioned yesterday, there is still much risk in the market so trade with caution. Bias is for further dollar losses. If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area.
maxsuperstore.us

Tags: 2009, Daily, Forex, November, Outlook

Summary: With the NFP coming in slightly below forecast, and the previous months numbers revised for the better, the Dollar wasnt able to make any headwind, and just ended up swinging back and forth between 1.4820 and 1.4910. The Fed also continued to say that they will leave interest rates at extremely low levels for an extended period of time. Nothing major out of the G20 meeting; the Tobin tax was discussed that would levy a tax on most bank transactions, China was pressed for further Yuan appreciation, and the financing over climate change was discussed. The fact that the Euro didnt fall below 1.4800 opens up room for the dollar to continue losing ground. If youd like a more detailed analysis with potential trade opportunities, please join us in the members section.
maxsuperstore.us

Tags: 2009, Daily, Forex, November, Outlook