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Forex Commentaries and Forecasts
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The dollar gains on profit taken elsewhere
Wed, Mar 19 2008, 20:09 GMT
by Peter Mill
Forex Trading Signals and Daily Strategy
Live Forex, Stock, CFD, Gold and Crude Oil signals by World-Signals.com.The dollar recovery today against the major currencies like the euro with about 200 pips, the British pound with over 300 pips, the Gold spot with more than 50 dollars, Crude Oil with over 5 dollars and other commodities and currencies. The reason for the dollar gains is profit taken. In very high volumes the investors turn back the profit. The euro not succeeds to break for second time above the levels of 1.59 and in second day not set new records. “The profit taken will continue elsewhere,” said George Marshal analyzer in World-Signals.com. In the coming days the pressure against the dollar will remain while most of the investors predict new 75 bps interest rates cut till the summer. If the Fed continues to cut the interest rates with 75 bps to 1.5% then we can say this will be the last interest rates change into downside.
Published on Wed, Mar 19 2008, 20:10 GMT
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