Speculative trading supports the dollar rise

By Fs Team
24 August 2010 @ 12:59 am EDT

EUR/USD (1.2639)

European & US sessions forecast levels: 1.2525/1.3335

Trend Sessions: European: Neutral

US: Neutral/Downward

Market Focus: 10:00 AM Existing Home Sales.

Daily Strategy: The euro was widely sale due too starting speculative trading. There are not fundamental reasons for the weak euro in the last few days. The euro may continue lose against the dollar today as the trading strategy is to open short positions as sell on correction up to 1.2675/95. The expectations for worse report for U.S. Existing Home Sales may support the dollar as the traders to back on safety.

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

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