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Forex signals providers are buying EUR and CHF!

Last week was marked by the fall of USD against its main competitors, except GBP. For example, EUR/USD reached the maximum level since September, 2008 – 1.4765, USD/CHF fell down to 1.0273 and USD/JPY moved downwards to 90.11.

The main reason was, of course, the announcement of economic news and the upward moving of stock exchanges. As ususal, investors and Forex signals providers consider that as the improvement of the economical situation in the world and begin to buy the currencies, able to bring more profit.

The only currency to lose its positions against USD was the British pound. At the beginning of the week GBP was supressing dollar, but after Merving King’s speech it began to fall down very fast. Forex signals providers were quite active at that time in selling British currency. So, by the end of the week GBP fell down to 1.6300.

The last week’s tendency showed the investors and Forex signals providers to be eager to risk and invest in more risky currencies (compared with USD). Mainly EUR and CHF are invested in, because that currencies were suppressing dollar very strong. And frankly speaking, such tendencies can continue next week as well.

The main thing to be taken into consideration by all traders and Forex signals providers is, of course, the meeting of Big 20 in Pittsburg, which will be dedicated mostly to the questions and problems of economics. The leaders of the leading countries in the world economy will come there, and that remarkable event is to be paid great attention to, because some important statements can be made there.

What concerns the main currency pairs, the following rages are expected for the next week: EUR/USD – 1.4580-1.4800, GBP/USD – 1.6150-1.6600, USD/CHF – 1.0130-1.0400, USD/JPY – 89.50-92.00.

by Jonathan Halprid
September 21, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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