The dollar slowly recovered after better housing report

By Fs Team
24 November 2009 @ 01:31 am EDT

EUR/USD (1.4930)

European & US sessions forecast levels: 1.4805/1.5060

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 8:30 AM GDP - Preliminary, GDP Deflator, 9:00 AM Consumer Confidence, 2:00 AM Germany GDP, 2:45 AM France INSEE Business Confidence, Consumer Spending, 4:00 AM Germany IFO Business Climate, IFO Current Conditions, IFO Expectations.

Daily Strategy: The dollar slowly recovered against the euro after better than expecting Existing Home Sales. The housing report was real surprise with much better level than the forecast. The dollar also recovery based on technical correction as the trading continue within the trading range of 1.48 and 1.50. There are a lot of key fundamental reports today that may help to the dollar to continue with the recovery.

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