Our Forex Buy/Sell Trading Signals forecast that the Euro/US Dollar currency pair will decline through short-term trading. Yet our recent Euro technical forecast actually calls for further EURUSD strength through upcoming forex trade. We likewise believe that the prospects of lower Federal Reserve interest rate targets may send the dollar to further lows through the end of the day’s trade. The recent Lehman Brothers bankruptcy filing has forced a seismic shift in Fed rate expectations.
Our forex trading signals currently suggest that we should go short the euro against the US dollar, but it seems that several key factors go against the trade. Indeed, a more discretionary examination of key factors suggests we should stay strategically short US dollars through upcoming forex trading.
See more Forex Buy/Sell Signals on DailyFX+ and be sure to monitor any updates on these specific signals, as our automated forex signals can and do change on a daily and intraday basis.
For more information and guides on using our DailyFX Buy/Sell Signals, see our Weekly Forex Trading Strategy Outlook report.