Excerpt from: Forex Forecast
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| February 22, 2010 | | Currency trading with the greenback | The euro is posting gains again in forex trading today. Last week, the euro saw a bit of a rally as it corrected the fact that it has been oversold.
However, even though the euro is heading higher in forex trading right now, it is important to note that the U.S. dollar isn't down and out. In fact, insists GFT's Kathy Lien in FX360, the U.S. dollar forex trading forecast is still looking fairly decent:
The recovery in the euro poses little threat to the dollar’s rally
because fundamentally, the Eurozone is in worse shape than the U.S. In
terms of economic data, we have seen many upside surprises in U.S.
reports over the past 2 weeks while Eurozone economic reports are still
anemic.
| Topic Tags: currency trading, euro forex trading, forex trading, forex trading forecast, FX360, Kathy Lien, U.S. dollar | |
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