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USD recovers?

Monday, October 26, 2009, was marked by USD’s trying to push its main rivals down. And the most efforts were quite successful. USD began fast recovery during the American session – the investors began to risk more, the stock exchange indices fell down and claims of FRS about possible changes in credit policy made the American currency rise up quickly. EUR/USD fell down to 1.4850, USD/CHF went up to 1.0200 (150 pips growth!) and USD/JPY finished the trading day at 92.20. Only GBP/USD was trading about 1.6300 without big rises and falls.

On Tuesday some bit of correction on the main currency pairs can be expected by Forex signals providers and traders. The news from USA is to show positive dynamics, which will be good for USD. EUR/USD will possibly do some correction and remain at the level of about 1.4840. But at the same time GBP/USD is likely to continue growing to 1.6400 in order to reach the target of 1.66 in the future.

by Jonathan Halprid
October 27, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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