euro vs dollar

Euro vs Dollar Chart 24 June 2010

The euro vs dollar continues to trade in a very narrow range and in a desultory manner, waterlogged between the 40 day moving average to the upside and the 14 day to the downside with yesterday’s price action centred around the 9 day ma.  Yesterday’s forex trading session ended with a tiny doji candle and based on the price action so far today this looks like being a repeat performance.  Even yesterday’s FOMC statement to excite the pair!  Later today we have the Core Durable Goods and unemployment data which may inject some life.  The first of these is expected to show an improvement in orders, reversing last month’s -1.1% to +1.1% whilst the unemployment claims are expected to show a modest fall from 472k to 461k.  The week ends quietly for the euro vs dollar with no tier one news either in Europe or the US as the markets wait for the outcome of the outcome of the G20 summit in Toronto which starts on Friday.

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