The new highs the Greenback reached yesterday in the majors are at long-term resistance levels now. We expect these levels to hold in the days to come, giving the USD time to digest its new surge. The major pairs showed some of the correction moves in early European trading already, reflecting the overbought condition of the U.S. currency. We expect the sideways market to continue today, with trading ranges offering enough room for further downward corrections for the USD, as described in

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This entry was posted on Saturday, October 4th, 2008 at 6:10 pm and is filed under Forex Economic Indicators. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.