Forex Daily Strategy by FS Team

US assets buying hold the dollar gains

By FS Team
18 November 2008 @ 01:37 am EDT

EUR/USD (1.2590)

European & US sessions forecast levels: 1.2390/1.2855

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 8:30 AM PPI, Core PPI, 9:00 AM Net Foreign Purchases, 4:00 AM Italian Trade Balance.

Daily Strategy: The dollar remains mix against the major currencies including euro. The recession is in Europe, USA and Japan. The global economy is in recession. In world recession the investors buy more of the safest U.S. assets. The key news today for the traders will be US Net Foreign Purchases. The dollar may continue slowly gain against the euro in the coming hours. It is expecting levels of 1.24 for the coming hours or few days while the support at 1.2390 and 1.2330 is very strong.

For more forex information, go to www.forex-strategy.com

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