Excerpt from: Forex Analysis
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| February 29, 2008 | | Records in currency trading not expected to last for the euro | While the euro is expected to continue to make steady gains against the US dollar in currency trading on the FX market, the recent gains may be overkill. Forex trading strategy should consider that the euro may be overbought right now, and that it may head lower in correction before it resumes its steady gains. Bloomberg reports on currency trading with the euro:
``The euro has been overbought in such a short period,''
said Michiyoshi Kato, a senior vice president of currency sales
in Tokyo at Mizuho Corporate Bank Ltd., a unit of Japan's
second-largest publicly traded lender by assets. ``Recent gains
are clearly overdone.'' | Topic Tags: currency trading, currency trading euro, forex trading, forex trading euro, forex trading strategy, FX market, US dollar currency trading | |
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