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New Year Forex trading!

Yesterday the trading on the Forex market! didn’t appear to be pretty active. The market participants (even Forex signals providers) weren’t eager to risk and kept silent most of the time. But there was one “bump” in the middle of the trading day. The growth of European stock indices in combination with positive news on consumer price index in Germany made EUR suppress its main rivals – GBP & USD. Due to that EUR/USD managed to reach the point of 1.4457 in the first part of the Forex trading day. But after that the American currency managed to recover a bit and the day was finished at about 1.4350. At the same time the Forex position of the British pound wasn’t really good. GBP/USD fell down to the level of 1.5898 even without serious attempts of going up.

At this rate the trading on Wednesday, December 30, 2009, isn’t expected to be fast and active. It may be just the same situation as on Tuesday. The big “jumps” of the trends can occur, but the total condition of the Forex market won’t change really. In fact, the market participants will be waiting for the Forex releases of Euro-zone M3 money supply and Chicago purchasing manager index. Due to that EUR/USD might be trading around the point of 1.4350 and GBP/USD is likely to finish the Forex day not far from the point of 1.5900.

by Jonathan Halprid
December 30, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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