Feb, 24 2009 10:08 Am est
The Dollar gained strength after the CB Consumer Confidence news announcement came in at 25. The number expected was 35.5 so that was well below the expected estimate which indicates that the confidence of consumers is dropping extremely fast.
The result of this news was that the Dollar immediately gained strength against most currency pairs. The current price on the Eur/Usd is 1.2726 with the price challenging the 1.2700 support level.
We could see this level taken out and we would probably see more dollar gains from that point.
Latest posts by casey (see all)
- Learn why using a 2:1 Risk to Reward Ratio can increase profits - September 19, 2017
- My Personal Trading Plan Reviewed by Trading Expert Kim Krompass - August 4, 2017
- Trading Discipline: Most Important Skill for Successful Trading - August 3, 2017
Winner’s Edge Trading, as seen on: