Forexpros.com Daily Analysis - 06/05/2009

EURO/USD is expected to swing and slide for today
EURO/USD made the drop to 1.3248 and then rose to a high 1.3332 - a wide range swing to induce traders to make buy after rise and sell after fall.Also the rise in EURO and slide in GBP is to rise EURO/GBP cross before making further drop in the cross.
EURO is expected to slowly swing and slide for today before making the rise from tomorrow and Friday.

GBP/USD is expected to swing and slide more
GBP/USD made the drop to 1.4995 and then rose to a high 1.5120 - a wide range swing to induce traders to make buy after rise and sell after fall. Also the drop in GBP and rise in EURO is to rise EURO/GBP cross before making further drop in the cross.
GBP is expected to slowly swing and slide for today before making the rise from tomorrow and Friday.

Analysis by: http://www.Forexpros.com - Written by Dr.S.Sivaraman

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