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Technicals

Bernanke promised new emergency action for Wall Street

Forex Daily Strategy by FS Team
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09 July 2008 @ 01:11 am EST
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EUR/USD (1.5690)

European & US sessions forecast levels: 1.5610/1.5790

Trend Sessions: European: Neutral/Upward

US: Neutral

Market Focus: 2:00 AM German Trade Balance, 2:45 AM French Trade Balance, 3:00 AM ECB President Trichet Speaks.

Daily Strategy: The dollar recovery against the euro after Bernanke comments for new emergency lending facility for Wall Street. But the recovery was temporary and follows new upward movement during the Asian session. For today there are not key economic events for the US economy, but few for the Euro Zone including Trichet speech. The trading strategy today is to open long positions.

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