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Market remains active!

Forex trading on Wednesday was pretty active because of the big amount of news released that day. As it has been predicted, there were no great changes in prices by the end of the trading day, but all the markets participants tended to behave quite lively. The point was, that almost everyone, who has somehow to deal with finance was waiting for the FOMC announcement of interest rate, which remained the same (0.25%) according to the predictions.

Due to that EUR/USD was to rise up first, but after the rate announcement it fell down to 1.4500, having finished the Forex trading day at 1.4529. GBP/USD managed to rise up and even reached the day’s maximum of 1.6410, but after that it rolled down a little bit and the trading day was finished at 1.6326.

Thursday, December 17, 2009 is likely to be pretty active trading day in spite of little news released. The only important information is to come from the United Kingdom of Great Britain and Northern Ireland (data on retail sales and BoE announce of inflation rate) and The United States (initial jobless claims & Philadelphia Fed. index).

According to that, EUR/USD must fall down very quickly, but the European currency can make some attempts of correction. The minimum level is expected to be about 1.4380, and the trading day is likely to be finished at 1.4410. At the same time GBP/USD might also go down and reach the point of 1.6150.

by Jonathan Halprid
December 17, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
December 16, 2009 The decision of FOMC
December 15, 2009 The fall down of USD rivals

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