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Forex Commentary
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The investors still are worry that the situation in US economy is worse
by Forex Strategy Team
Updated 05:36 GMT, May 07, 2008
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EUR/USD (1.5508)
European & US sessions forecast levels: 1.5455/1.5595
Trend Sessions: European: Neutral/Upward
US: Neutral/Upward
Market Focus: 8:30 AM Productivity-Prel, 10:00 AM Pending Home Sales, 3:00 PM Consumer Credit, 1:45 AM French Government Budget Balance, French Trade Balance, 5:00 AM EU Retail Sales, 6:00 AM German Factory Orders.
Daily Strategy: In spite the positive news from Friday when the Unemployment rates down to 5.0% in forecasting 5.2% and lower than expected US non-farm payrolls the dollar remain weak. The investors still are worry that the situation in US economy is worse. It is necessary serial of positive news for the economy to turn the tendency from weak dollar to recovery of the dollar. The dollar will remain weak today. The trading strategy is to open long positions, as buy on dips.
Forecast by FS Team - For more forecasts and signals visit - www.forex-strategy.com
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