Forexpros.com Daily Analysis - 07/05/2009
Expected moves in EURO/USD during important event day
EURO/USD was trading in the range of 1.3450-1.3230 area early in this week .It is expected to make highly volatile moves today during the BOE and ECB interest rate announcement time and also during ECB press conference time.
EURO/USD is expected to break the initial high (1.3356) and low (1.3278) set for the day during European and US sessions. A low in the range of 1.3150-1.3200 could be formed during European session and a high of 1.3450-1.3520 could be formed during US session before tomorrow another big event NFP data release.
GBP/USD - highly volatile moves expected today
GBP/USD was trading in the range of 1.5150-1.4980 area early in this week .It is expected to make highly volatile moves today during the BOE and ECB interest rate announcement time and also during ECB press conference time.
GBP/USD is expected to break the initial high (1.5156) and low (1.5101) set for the day during European and US sessions. A low in the range of 1.4850-1.4900 could be formed during European session and a high of 1.5200-1.5270 could be formed during US session before tomorrow another big event NFP data release.
Analysis by: http://www.Forexpros.com - Written by Dr. Sivaraman
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DISCLAIMER:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
