Euro vs Dollar Candle Chart 5 August 2009

Euro vs Dollar Candle Chart 5 August 2009

Following three consecutive days of gains the euro vs dollar currency pair took a breather yesterday ending the trading session with a tiny doji as traders took some profits and now wait for the next batch of fundamental news on the economic calendar.  Amongst these are the ADP figures today, the ECB rate decision tomorrow and finally non farm payroll on Friday, all of which should provide additional volatility to the pair, which may well begin later on today when the first of these is announced.  With the breakout having now finally occured and with a strong platform now sitting below the current market price we should see the Eurodollar power ahead in the short term to a longer term target of 1.50 firmly in our sights.   In the interim any pullback should be viewed as a buying opportunity.  All the other fundamental news items are covered on the main euro to dollar site.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.