To Be a Bull or Not to Be a Bull?

August 14th, 2009 admin

The week has come to an end, with dollar showing signs of weakness once again against its major counterparts and especially the euro, after better than expected news out of Germany and France yesterday, suggested that the worse may indeed be over for the Euro area and recovery may very well be a reality. The GDP numbers in Euro zone were surprisingly strong and traders honored the European currency by buying it gains the buck, taking the EUR/USD back up towards 1.43. The EUR/USD closed the day on the upside trend, and the daily charts suggest that further move up may be seen tomorrow towards 1.44. As long as the pair holds 1.4230 ahead of 1.4180, there is good reasons to think that pair is heading north in the coming hours, as traders felt some kind of relief after the better…


Originally posted on NewsImpact

 
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