» Dollar Index Could Gain on FX Market

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Dollar Index Could Gain on FX Market

Chance for dollar index in forex tradingThere is a chance for the dollar index to gain in currency trading on the FX market, as support and Fibonacci numbers point to some short term increases. While many expect dollar weakness to continue, there is some expecation of upside for now. Bloomberg reports on the possibility of a dollar index increase in forex trading:

“Overall, developments continue pointing towards some, at least short term, upside for the dollar against the majors,” analysts led by New York-based global head of currency strategy Tom Fitzpatrick wrote in a research note yesterday.

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Source : GFT Forex

This entry was posted on Wednesday, January 9th, 2008 at 13:53 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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