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Forex signals active day

On the first day of the trading week the trading itself turned out to be not very active. The behaviour of Forex signals developers and investors was somehow sleepy. There was not a lot of news and due to that the trend moving was quite slow, as it has been predicted before. But the release of Euro-zone consumer price index showed positive dynamics and was a factor to make Euro and the British pound rise against USD a little bit – in a moment all Forex signals investors became alert and started trading.

At this rate EUR/USD went up to the point of 1.5083 quite quickly. But the USD was to recover and push the price down for about 100 pips to 1.4972. But the trading day was finished a bit above 1.5000. It’s necessary to admit that many traders and Forex signals developers predicted the rise up of the European currency, but Euro remained “silent”. At the same time GBP/USD was just almost to repeat the story of EUR/USD – at first it rose up, but then fell down and was trading around 1.6447.

On Tuesday, December 01, 2009 the investors and Forex signals providers will be expecting the important news both from Euro-zone and the USA. In Europe the info on unemployment rate will be released, Germany announces the data on retail sales and unemployment rate, the indices of house prices by Nat’wide and PMI are to come from Great Britain.

So, EUR/USD is likely to go down a little bit, then to rise up to about 1.5050 and finally to go a down by the end of the trading day. GBP/USD may break through the level of 1.6500, but it shouldn’t set there and might fall down to 1.6450 – that may be caused by negative news from the United States, which will certainly influence the behaviour of Forex signals providers.

by Jonathan Halprid
December 1, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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