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Forex signals providers expect correction

Just according to my predictions, yesterday the tendency of USD falling down continued. Frankly speaking, it was quite obvious, that EUR and GBP will push dollar down, because the news from Europe are quite positive. Also the news, that during the meeting of Big 20 in Pittsburg the questions about reducing the misbalance in world trade will be investigated, made Forex signals providers sure about opening positions, buying GBP and EUR against USD. Due to that during the European session EUR/USD has reached the 12-month maximum of 1.4820.

After all USD/CHF fell down to year’s minimum of 1.0215 and GBP/USD was to rise to the level of 1.6394. But the British Pound continues to remain under the pressure of the claim of the British Central Bank about possible falling of the currency because of financial crises. Speaking about JPY it can be admitted, that yesterday it was to rise a little bit and due to that USD/JPY set up at about 90.91. All Forex signals providers are to remember, that today Japanese dealing desks don’t work because of Bank Holidays.

Today Forex signals providers will find quite an amount of important news. But the following ones are the first to be taken into consideration: DOE U.S. Crude Oil Inventories, DOE Cushing OK Crude Oil Inventory, FOMC Rate Decision, Japanese Merchands Trade Balance Total.

After Tuesday rise up of dollars rivals, today Forex signals providers can see a bit of correction on the main currency pairs. EUR/USD can test a new level up at first (some about 1.4860), but then fall back to the level of 1.4800 and be moving round there. But GBP can continue suppressing USD and can rise to the level of 1.6450. USD/CHF is expected to remain in the rage of 1.0200-1.0300 and USD/JPY – 90.30-92.00.

by Jonathan Halprid
September 23, 2009
See Forex Analysis and Forex Forecasts for the previous days there:

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