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The Reign of Dollar

Just according to the Forex predictions, the United States Dollar almost “slaughtered” his rivals on Wednesday. Both EUR and GBP were brought down very fast. At the same time the stock indices all over the world fell down, which partially was the reason for Forex market participants getting rid of high-yield currencies. At this rate EUR/USD fell down to 1.4106, but the trading day’s minimum was 1.4079, which means that the pair lost more than 200 pips in just a day! GBP/USD managed to reach the point of 1.6243, but by the end of the Forex market day to recover to 1.6294.

Those events may be the beginning of new Dollar era. It seems that the American currency is likely to continue going upwards and suppressing the European trading Forex rivals. The European economics is experiencing not good times, which can keep EUR low for some period of time. The Great Britain is almost in the same situation.

On Thursday, the power of USD isn’t likely to disappear. For example, GBP/USD is likely to show pretty big fall down and go to the point of 1.6150. EUR/USD is also to continue Forex going down and may manage to reach 1.4000 and even break through that important level. What concerns Forex trading news, it can be admitted, that the market participants and Forex signals developers will be waiting for PMI releases from Euro-zone and the package of economic news from the United States.

by Jonathan Halprid
January 21, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
January 20, 2010 USD Forex revenge
January 19, 2010 Forex signals vice versa
January 15, 2010 Forex market Friday news

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