Forex Daily Strategy by FS Team

ECB will follow the other central banks this week

By FS Team
30 March 2009 @ 01:38 am EDT

EUR/USD (1.3213)

European & US sessions forecast levels: 1.3030/1.3380

Trend Sessions: European: Neutral/Downward

US: Neutral/Downward

Market Focus: 2:00 AM Germany Retail Sales, 4:00 AM EU Business Climate, Economic sentiment, Industry sentiment, Consumer sentiment, Bloomberg Retail PMI.

Daily Strategy: The euro loses against the dollar due too the expecting interest rates cut in the euro zone. European Central Bank meeting this week will cause interest rates cut to follow the other central banks worldwide. The pressure against the euro remains after the Germany finance minister comments for expecting troubles with the euro caused by the interest rates politic. The dollar will continue take advantage against the euro today. The trading strategy is opening short position today.

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