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USD - falling down awfully!

On Wednesday, October 14, 2009 USD didn’t manage to rise and continued falling down against it main rivals. That was the result of release of the economical statistics from the USA and positive data from both Eurozone and Asia. And the quotes of American stocks rose up yesterday, which had also a negative influence on USD.

Due to that, EUR/USD has set the new maximum of the year, which is 1.4945 now. But traders and Forex signals providers still continue buying Euro, which will make it even stronger. The British pound has finally started recovery and suppressed USD. GBP/USD reached the maximum of 1.6020, but the rolled down a bit and finished the trading day at 1.5965. USD/CHF was to rise at first and set at about 1.0226. But a few moments later the fall down began and the minimum of the month - 1.0128 was reached. The fall of USD/JPY was also quite fast. Having started the day at 89.90 the quotes moved downward for 100 pips and set at 88.81. Only by the end of the trading day USD was to rise up a bit and the price became 89.40.

On Thursday, October 15, 2009, the main news are to come from the USA: the info on Initial Jobless Claims, Empire Manufacturing, DOE U.S. Crude Oil Inventories and Consumer Price Index will be released. The data on Manufacturing Sales will be announced in Canada and changes of CPI will come from Eurozone.

Due to that the next target for EUR/USD is expected to be 1.5000 with the probable support at 1.4850. GBP/USD is to break the level of 1.6100 and to set at about 1.6150. USD/CHF is likely to fall down 1.0100, but not to rise higher than 1.0250. USD/JP is expected to continue moving down to the new resistance level of 88.50.

by Jonathan Halprid
January 1, 1970
See Forex Analysis and Forex Forecasts for the previous days there:
October 13, 2009 An interesting position of USD
October 9, 2009 USD - probable recovery.
October 7, 2009 Is USD likely to rise?
 
 
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