GFT Daily Market Commentary

Forex Market Commentary for August 25, 2008 by Cornelius LucaGFT Daily Market Commentary The market is looking for a dip to buy dollars again after missing the big rally on July 22. The US currency rallied on Friday for this reason, but the sell-off in oil and the rally in stocks on rumors that Lehman will be bought underpinned. The immediate risk is on the upside and the only US economic report is existing home sales.Euro/dollar Euro/dollar gave back most of the gains made on Thursday. My model is long, but the immediate risk is on the downside. Initial support is now seen at 1.4700.

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