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Currency trading involves risk of loss.
Leverage magnifies both gains and losses.
After a few weeks of rising back into usual and normal levels the USD went down a bit and against all other currencies, Euro, Australian dollars, New Zealand dollars and CAD. Only one currency was weak enough but still didn't bent and kept a solid no-up no-down level - the Japanese Yen, which basically earned from the overall carry trade demand.
What does this mean? is the rising for the dollar over? Probably not the USD is still very strong and in 2008 it should be even stronger.
Even if we saw the rebound in the EUR/USD today, those two still on solid levels of the known 1.43 - 1.45 trading range (forex traders note this). Even the AUD/USD and NZD/USD are keeping a bit below resistance.
Predictions says that next week, trading should be quiet and easy which means that breaking the solid ground and levels for all currencies against the dollar and the resistance levels is unlikely to happen, we'll know more in 2008.
11:58
Posted on Dec-24-2007
