Excerpt from: Forex Analysis
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| September 28, 2007 | | Count on a weaker dollar against euro in currency trading | When planning your U.S. dollar forex trading strategy, it is important to note that the greenback may fall further against the euro in currency trading. Indeed, U.S. economic data indicates that there seems to be a pullback in the U.S. economy, and this means that the dollar could show more weakness. The International Herald Tribune reports on information you should use when planning U.S. dollar forex trading strategy:
U.S. data due later Friday could further weigh on the dollar "if this
suggests we'll see a continued run of rate cuts by the Fed into the New
Year," said James Hughes, an analyst at CMC Markets. "The key technical
level of 1.4200 is clearly the next one to watch." | Topic Tags: currency trading, euro currency trading, forex trading, forex trading strategy, U.S. dollar forex trading, U.S. dollar forex trading strategy, U.S. economic data | |
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