Forex Daily Strategy by FS Team

EUR/USD is in consolidation process in these hours

10 July 2008 @ 01:14 am EDT

EUR/USD (1.5727)

European & US sessions forecast levels: 1.5610/1.5790

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 10:00 AM Initial Claims, 2:45 AM French Industrial Production, 4:00 AM Italian Industrial Production, ECB Bulletin.

Daily Strategy: The dollar remain weak against the euro after continue worries for the situation of the world biggest economy. The dollar remains flat during the Asian session, as the traders expect new data for the economies in the Euro Zone and United States. For today the trading strategy is trading within short trading range. The data from the euro zone could move the market. As overall the pressure against the dollar will remain. We recommend opening long positions, as buy on dips today.

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