The dollar may starts recovery this week

The dollar finished a full week with every day losses against the euro. The Euro Zone positive news allow to the euro to gain about 600 pips against the dollar in the last week. The risk appetite also pushes the traders to sell dollars during the week. The huge gain of the Euro with 600 pips may allow to most of the traders to start profit taken in the coming week. The pressure against the dollar is mainly psychological. The main news by the last few weeks show that the bottom of U.S. recession is not reached as the global recession continues. The trend to sell dollars may end in a short time according to Peter Mill forex expert in If we do not see the end of the dollar losses on Monday the trading may continue at the levels of 1.4250 where the profit taken will start with dollar recovery to level of 1.3650/3700 is the forecast by

« More News