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Recovery of European currencies

Just according to the predictions given yesterday, Thursday appeared to be the day of the United States Dollar. The American currency suppressed its European rivals pretty good. These events drove some market participants (including traders and Forex Signals providers) crazy. Due to that the Forex market was pretty active that day.

The only currency to outperform the buck was the Japanese Yen. The currency of the country of Rising sun was to bring USD down a little bit, but this had no impact on the positions of Dollar on other markets and behaviour of Forex signals users & other active market participants. USD/JPY was to fall down to the Forex day’s minimum of 90.10. At the same time EUR/USD continued going down and reached the trading day’s minimum of 1.4028. But by the end of Forex market day the price was 1.4083. GBP/USD was also rolling down and the lowest point of the trading day was 1.6124, but the GBP was to recover a bit and the day was finished at 1.6194.

On Friday, January 22, 2010, the European rivals of the American currency are going to make a slight recovery, which is highly awaited by the Forex signals developers and investors, who invested into high-yield currencies. The point is, that there won’t be much Forex news released this day. Only the information retail sales in Great Britain and industrial new orders in Euro-zone will be released.

Due to that Forex signals providers and active traders might expect, that EUR/USD may go upwards a little bit and recover to the point of 1.4165. GBP/USD is also likely to rise up and reach the level of about 1.6285.

by Jonathan Halprid
January 22, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
January 21, 2010 The Reign of Dollar
January 20, 2010 USD Forex revenge
January 19, 2010 Forex signals vice versa
January 15, 2010 Forex market Friday news
 
 
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