Forex Update
Posted on May 26th, 2008 by Contributor
It has been a while since I have talked about the Forex market. I have been a little to busy to keep up with the technical analysis but I have taken a new long position recently. I see the rising price of crude oil weakening the dollar more.
The Euro has been on a retreat from record highs but the drawback seems to be nearing an end. Its looking like the combination of rising crude oil prices and weak financial numbers on Wall Street have made an opportunity to buy the Euro. This is based only off of economic data and no chart analysis. I will update later.
Discussion Area - Leave a Comment