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Disaster for USD!

The beginning of the week turned out to be the continuation of the disaster for the American currency. Even Forex signals providers hadn’t expected such fall. EUR/USD at first seemed to fall down to 1.4827, but during the American session gained more than 100 pips and moved up to 1.4980. GBP/USD went down to the support level of 1.6250, but the furious rise-up made the pair break through 1.6400 and finish the trading day there. At the same time USD/CHF reached 1.0101, which also is a good sign for Forex signals providers to sell USD.

On Tuesday, October 20, 2009 the main news to be paid attention by Forex signals providers are M4 Money Supply in Britain, data on Canadian Wholesale Sales and Bank of Canada Rate, which is extremely important at the moment for all traders. But another piece of news is to come from the USA: Housing Starts, Building Permits and API U.S. Crude Oil Inventories.

Forex signals providers and traders expect the pressure on USD to remain the same. The main target for EUR/USD is 1.5000, after breaking which the price can continue moving upward, but can be brought down by some decisions of the heads of Central Banks. GBP/USD will possibly be going up in order to break through 1. 6500. USD/CHF is likely to set at the level of 1.0100 and even to fall down to 1.0000.

by Jonathan Halprid
October 20, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
January 1, 1970 USD - falling down awfully!
October 13, 2009 An interesting position of USD
October 9, 2009 USD - probable recovery.
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