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Forex trading before Christmas

On Wednesday the growth of USD was stopped a little bit by the influence of Forex news, which made the rivals of the American currency to go upwards and try to make some kind of recovery. At the beginning of the American trading session USD started falling down, but after the release of University of Michigan confidence index, which appeared to be worse than predicted, bucks continued Forex downward moving. EUR/USD managed to break through the level of 1.4300 and finish the trading day at 1.4328. GBP/USD wasn’t rising fast and after a couple of not successful attempts to go up, just finished the trading day near the open point – 1.5961.

On Thursday, December 24, 2009, there is a couple of important Forex news to be released, which can appear to be the reason for changing the situation on the trading market and making USD fall down a bit. The amount of economic news will be released in the United States: info on durable goods orders and initial jobless claims. Due to that, EUR/USD might be trading in the rage of 1.4300 – 1.4420 and GBP/USD is likely to rise to the level of about 1.6100.

by Jonathan Halprid
December 24, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
December 23, 2009 Waiting for the Forex news
December 18, 2009 Forex signals: active week end
December 17, 2009 Market remains active!

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