SubscribeDaily Forex Commentary for September 28, 2009
September 27th, 2009 • Related • Filed Under
September 28, 2009
U.S. Dollar Posts Weekly Closing Price Reversal Bottom
The U.S. Dollar overcame early weakness to post a weekly closing price reversal bottom. This move doesn’t turn the trend to up, but is a strong indication that the Dollar will rally for 2 to 3 weeks. A follow-through rally through .7734 next week is needed to confirm the reversal bottom. The main trend will turn up following a breakout over .7997.
To recap the market moving events this week, the Fed FOMC left interest rates at near historically low …
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