Daily Forex Commentary for August 14, 2009

August 13th, 2009 • Related • Filed Under




August 14, 2009

Bullish News from Euro Zone Fades into Close

Early this morning news out of the Euro Zone sent the EUR USD higher. Euro Zone GDP was better than expected buoyed by surprise increases from Germany and France. This news spilled over to the other currencies as appetite for risk returned to the market. The U.S. Dollar was weak versus all major currencies today.

Technically the Euro could still attract selling pressure. The current two-day rally has not taken out any significant tops to signal strong buying. The charts …
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