EUR/USD consolidate at the levels of 1.49 and 1.50

By Fs Team
19 November 2009 @ 01:35 am EDT

EUR/USD (1.4922)

European & US sessions forecast levels: 1.4805/1.5060

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 8:30 AM Initial Claims, Continuing Claims, 10:00 AM Leading Indicators, Philadelphia Fed.

Daily Strategy: The dollar slowly recovered against the euro during the Asian session. But the recovery is weak and may lose the recent gains too fast today. As overall the tendency is for consolidation at the levels between 1.49 and 1.50. The key Initial Claims today may send signal to the markets. It is expecting almost unchanged Initial Claims compared with the week before. The trading strategy today is to trade within the trading range.

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

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