eToro – Forex Trading Forum

[BlueinGreen]

Morning traders,

As expected, last week ended with a considerable correction for the dollar move. EURUSD has already made 300 pips straight up, and is back to 1.56 level. This level is where it has continuously bounced up and down and again since March ’08. It is also the middle price range for this period and the average price for the last three months of trading.

The market still believes the FED will not be as quick rising interest rates in the near future as apposed to the European Central Bank which may rise Interest rates on the EUR already next month.

However, I see the dollar still holding its ground relatively JPY, at least so far.
AUDUSD is already securely trading above 0.9500 and actually corrected most of its down move from two weeks ago.

A U.S report tomorrow is expected to show decline in consumer confidence which may push the dollar even lower. So this is something we want to watch closely.


Today we have some EUR zone figures coming out

9:00am EUR: German Ifo Business Climate Index Forecast 102.5 expected 103.5

9:00am EUR: Manufacturing PMI (p) forecast: 50.2 expected :50.5


Happy Trading

[Forex101]

The market still believes the FED will not be as quick rising interest rates in the near future as apposed to the European Central Bank which may rise Interest rates on the EUR already next month.

I certainly agree with that view, the ECB is bound to raise interest rates

[mahmod464]

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