Wednesday, November 22, 2006

Forex News: The possibility of 1.2900 testing

Forex News

“The Forex market is approaching to its upper range, but on the threshold of several days-off in the USA and Japan, the volume of deals is extremely poor”, Georgiy Fedotov, NorthFinance analyst says. “In connection with that, major currency pairs accomplish spasmodic fluctuations.

There is a possibility of 1.2900 testing. The consolidation above this level will speak for high probability of ascending movement of EUR/USD.

Today the results of BoE meeting minutes on November 8-9 are published. The data on jobless claims in the USA is also released today. The analysts expect the indicator to increase to 310K, from 308K of the preceding week. According to the analysts’ forecasts, the Michigan sentiment index will keep steady at the preceding level”.


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