euro to dollar

Euro vs Dollar Chart 10 Aug 2010

Today’s price action on the euro vs dollar chart prior to the FOMC release saw a temporary reversal of the recent rally in the pair and which saw the usd index trading back above the 200 day moving average.  However, this mild reversal in the fortunes of the US dollar appears to have been short lived as the lower wick of today’s candle on the euro vs dollar chart now sits perched on both the 9 and 14 day moving averages as the pair look set to resume their upwards trend.   From a fundamental perspective although there is no fundamental news in Europe tomorrow the markets will be focusing instead on the raft of data from China which includes CPI, retail sales and the industrial production figures.   The bond market too is one to watch as deflationary fears has resulted in a surge in long dated Treasuries.

What is one of the best retail forex trading platforms?  In my view it is Metatrader 4.  Advanced, powerful & intuitive it now comes with ECN execution, so you can happily scalp away without broker or dealer intervention.  Just download your free demo copy of MT4 by following this link – download metatrader free –  and get started today.  Don’t forget to follow my daily posts for updates and analysis of the forex markets to help you with your forex trading – so good luck and good trading.

Dollar sheds early gains