The dollar is weak after better economic news

By Fs Team
03 November 2009 @ 01:38 am EDT

EUR/USD (1.4800)

European & US sessions forecast levels: 1.4685/1.4925

Trend Sessions: European: Neutral

US: Neutral/Upward

Market Focus: 10:00 AM Factory Orders, 2:00 PM Auto Sales, Truck Sales.

Daily Strategy: The Monday’s report for United States economy was positive that push some of the traders to sell dollars and back to risky assets again. The Institute of Supply Management (ISM) said its ISM manufacturing index rose from 52.6 in September to 55.7 in October, the highest level since April 2006. This week the investors will expect new positive signals for the U.S. economy following today Factory Orders and the key Friday jobs report. We recommend today trading within the trading range.

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

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