Source: ForexYard
Despite a moderate upturn in today’s early hours, the EUR continues to trade within its bearish trends versus most of its major counterparts. As we approach the holidays Christmas and New Years, many markets will experience a level of thin trading which could intensify market movements over the next week and a half. The EUR’s upward tick in today’s market may be a result of this thin trading since its upward move did not seem to coincide with any events which would cause it.
The USD will also be on shaky ground, but most analysts are continuing to claim that the greenback is on path to climb even further going into 2010. Where Dollar news is most important is in commodity trading.
The prices of Gold and Silver both seem to be reacting in a very predictable manner in regard to the value of the dollar, but Crude Oil seems to be acting contrarily to market perceptions. Many explanations are put forth, but the truth is that it’s irrelevant considering this correlation will likely continue through to January 1st and traders can benefit from this behavior by trading accordingly.
Forex Market Analysis provided by Forex Yard.
© 2006 by FxYard Ltd
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