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USD Forex revenge

On Tuesday the situation on the Forex market was developing pretty fast and was quite active, as it has been predicted before. Mainly the market participants were to bring EUR down, because during the first part of the Forex trading day the tendency for selling European currency was quite strong. At the same time the British pound and the American Dollar were to rise up a little bit, but GBP/USD didn’t remain calm – at first the Forex pair managed to reach the trading day’s maximum of 1.6456, which was a surprise for some investors.

But just after the American session began, the USD started to suppress its rivals very actively. GBP/USD was brought down almost to open point (the trading day was finished at 1.6362), which killed all the possible tendencies of British pound’s rising. EUR/USD continued falling down and by the end of the trading day the important level of 1.4300 was reached and even broken through. The Forex trading day’s minimum was 1.4251.

Wednesday, January 20, 2010 is expected to be very interesting day for all market participants, from brokers to Forex signals users. According to the predictions USD gonna continue suppressing its Forex rivals and bring them down even before the opening of the American session. The amount of news to be released is also pretty big, which makes the situation even more interesting. For example, jobless claims change and Bank of England minutes will be released in the United Kingdom. In the USA the producer price index, housing starts and building permits will be published during the second part of the trading day.

At this rate EUR/USD gonna fall down and even break through the very important psychological level of 1.4200. But it may not finish the trading day under that point. GBP/USD is also likely to go downwards and reach the level of about 1.6250.

by Jonathan Halprid
January 20, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
January 19, 2010 Forex signals vice versa
January 15, 2010 Forex market Friday news
January 12, 2010 Not active Forex day
 
 
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