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Negative news brought USD up!

Just according to the predictions the situation on the Forex market on Thursday turned out to be very intensive. The market participants including traders and Forex signals developers, were very careful and were waiting for the news. And that was the right decision. All the Forex rivals of USD were losing their positions without any serious attempts of recovery. Even the British pound was to fall down because of Standard & Poor’s claiming that the British Bank system can’t be any more considered the most stable in the world. These were the signals for active selling GBP. Due to that GBP/USD fell down to 1.6118.

At the same time the negative Forex news on German unemployment rate, which appeared to be even higher than predicted – 8.2%, brought down the united European currency. At first EUR/USD was even trying to set at the day’s maximum of 1.4047, but then it rolled down and finished the trading day at the level of 1.3960. But the day’s minimum of 1.3936 was set during the Asian session. Due to that many of Forex traders and signals providers decided to dell EUR during the first part of the day.

On Friday, January 29, 2010, there are some interesting and important Forex news to be published, which will be awaited by almost all Forex signals providers all over the world. The Nat ‘wide house prices index will be released in the UK. The info on Euro-zone unemployment and USA GDP change may also have influence on the situation on the market. At this rate it’s necessary to admit, that EUR/USD is likely to continue going downwards and may break through the level of 1.3900. GBP/USD might fall to the point of about 1.6050.

by Jonathan Halprid
January 29, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
January 26, 2010 Tuesday on Forex market
January 25, 2010 Another active week

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