Friday, April 10th, 2015

Forex Daily Outlook November 12, 2009

The Sterling was once again the clear loser of the day, losing more than 250 pips before finding support at 1.6535. The euro attempted another run at 1.5050 but failed; we must now be careful as failure to break 1.5050 may prevent euro bulls from pushing it higher. Treasury Secretary Geithner once again suggested that he truly believes that a strong dollar policy is in the United States best interests. We are still looking for opportunities to sell the buck, but as the market continues to hesitate, we should remain cautious. New Zealand retail sales came in worse than expected, yet we expect further NZD buying as the market will push this pair to extremes prior to a big reversal sometime in the future. If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area.

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