Check out this week's forex forecast: Trading
has been all over the place during the previous week, and I think we are going to see more of this going forward. At this point is all about shorting rallies, with the 1.01 level above being resistance, and then again at the 1.02 level.
It’s difficult to get bullish of the Euro knowing that this winter is going to be very negative for that part of the world. A little bit of patience can go a long way, because you can get “value” by picking up “cheap US dollars.”has fallen during the week to threaten the 1.15 level. This is an area that will attract a lot of attention, and I would anticipate some type of short-term bounce. I thought we had that on Friday, but we have given back almost all the gains in rather short order.
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