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Forex signals: short trading week

Last trading week can be called “USD domination week” because the American currency managed to be suppressing its main rivals all the time. For example, EUR/USD appeared to be a pair to fall down pretty quickly and pretty low – Forex trading on Friday stopped at 1.4394 (on Monday it was 1.4611). GBP/USD was also to fall down and reach the point of 1.6118.

That weeks appears to be one day shorter than usual, because in many countries Christmas will be celebrated and due to that the market will be closed. So, the liquidity won’t be really high. The last trading week showed that the market participants (including Forex Signals providers, investors and usual traders) are not really eager to buy high-yield currencies, which made USD stronger. At the same time the releases by different rating agencies about the development of European economics made the situation for the rivals of USD even darker. Due to that the Forex domination of the American currency is likely to continue, which is also expected by Forex signals developers and alternative investors.

Speaking about Forex news that week, it can be admitted that there won’t be really much data to be released. The information on GDP, current account and will be released in the United Kingdom of Great Britain and Northern Ireland, the news on new and existing home sales, durable goods orders and initial jobless claims. But the main news awaited by all Forex signals givers and other market participants is, of course, Bank of England Release Minutes of Interest Rate Decision. Frankly speaking, that information can turn the market inside out in a second, So, ne careful on Wednesday.

Due to that EUR/USD is likely to continue going down and fall to about 1.4150. At the same time in the first part of the Forex trading week some correction can be expected by Forex signals providers, traders and investors al over the world. GBP/USD might fall down as week and even break through the important level of 1.6000.

by Jonathan Halprid
December 21, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
December 18, 2009 Forex signals: active week end
December 17, 2009 Market remains active!
December 16, 2009 The decision of FOMC
December 15, 2009 The fall down of USD rivals
 
 
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