Forex Daily Strategy by FS Team

The markets are flat after G20 meeting

By FS Team
17 November 2008 @ 01:22 am EDT

EUR/USD (1.2568)

European & US sessions forecast levels: 1.2390/1.2855

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 8:30 AM NY Empire State Index, 9:15 AM Capacity Utilization, Industrial Production, 5:00 AM EU Trade Balance.

Daily Strategy: The leaders of G20 the world's biggest developed and emerging nations put banks and investors on notice. The banks will need to hold more capital and reveal more about their holdings, signalling the industry may emerge from the current crisis with less potential for profit. The forex reaction by G20 is nothing. It is expecting flat trading today into neutral direction. We are recommending trading within the trading range.

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