spoteuro Forex Daily Outlook February 24, 2010
Hi Traders! Economic data yesterday, though a bit mixed, helped strengthen the dollar as equities turned negative, leaving the DOW Jones down 100 points for the day. We still see the dollar rally continuing, but with the gains overextended, we wonder whats going to cause the retracements? Economic data set to be released over the next 72 hours will definitely give the market some trading opportunities. Were watching for a break of 1.3450 on the EUR/USD pair and a retracement to 1.5550 for the GBP/USD. We remain dollar bulls for now with retracement along the way. Article suggestion: finance.yahoo.com Dont forget, we will be hosting a News! Trading session Wednesday, February 24th, 1500 GMT/10amEST. Premium members may access the direct link in the Members Downloads section. The room will be open 20 minutes prior to trading. If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area.