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The middle of the Forex trading week.

On Tuesday trading on the Forex market turned out to be not very active because of lack of important Forex news. Some releases were made in China, which influenced the trading during Asian session. At this rate EUR/USD fell down to the day’s minimum of 1.4452 and GBP/USD got lower than 1.6100.

During the American session the Forex trading became more intensive because of the news, that US trade balance reduced for $36.4 billion. At the same time the data on US crude oil inventories was quite positive, which also had an impact on the behaviour of most Forex market participants, especially Forex signals providers. So, EUR/USD rose up a little bit and finished the trading day at the market point of 1.4490 and GBP/USD closed a little bit below 1.6150.

On Wednesday, January 13, 2010, there will be some interesting news released in Europe. For example, the data on Germany’s GBP and the info about British industrial and manufacturing production will come out. In the USA the monthly budget statement gonna be published today. And the speeches of the leading economists all over the world can also have some influence on the situation on the Forex market.

Due to that it’s necessary to admit, that EUR/USD might go up to the point of about 1.4550 and GBP/USD is likely to continue uprising and reach the level of about 1.6240.

by Jonathan Halprid
January 13, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
January 12, 2010 Not active Forex day
January 6, 2010 Active Forex signals day

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