Day: October 1, 2007

Bad ISM PMI Pushes Dollar Up?

EUR/USD hit another historical maximum today — 1.4281 and then unexpectedly retreated back to 1.4220–1.4230 levels. A still strong resistance value lies slightly below 1.4300 which is preventing EUR/USD to shoot up to 1.4500 or even farther. Every trader now must look towards Fed’s Bernanke’s decisions and ECB’s Trichet’s reaction on Euro/Dollar overvaluation (of it is possible in open market). Fundamental analysis now speaks more for the stocks […]