The Wild Card USD/SEK 25 Sep 2009

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The Wild Card USD/SEK 25 Sep 2009
Friday, 25 Sep 2009
Dollar, Yen up Ahead of the G20 Meeting

The Dollar snaps a two week decline versus the EUR after disappointing U.S Home Sales data and ahead of the G20 meeting. The USD and JPY are benefiting from the recent surge in risk aversion ahead of the G20 meeting and a concern that the group's leaders will pose stricter regulations on financial markets. The drop in Oil prices, which began Wednesday, only exacerbated yesterday as equity markets tumbled and the Dollar strengthened, putting pressure on the commodities market.

The Wild Card
USD/SEK

It appears as if a fresh bearish cross has formed on the hourly MACD, suggesting to forex traders that an opportunity is approaching ... read more.