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Excerpt from:  Forex Training
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November 14, 2008

U.S. Dollar Retracement and Currency Trading

Is a buying opportunity at hand for the U.S. dollar?
In forex trading, technical analysis can offer some insight into whether or not a buying opportunity exists. Right now, there is thought that a U.S. dollar retracement could offer a chance for currency trading buying. ActionForex points this out about FX trading and the U.S. dollar:

Last week, most of the forex majors overcame significant resistance against the US dollar but a notable correction failed to materialize. Looking ahead, positioning suggests current ranges will give way to a retracement of the greenback's strength, offering entry opportunities to traders betting on further Dollar appreciation.
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Topic Tags:  buying U.S. dollar, currency trading, forex trading, FX trading, FX trading dollar, retracement, U.S. dollar, U.S. dollar retracement
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