Daily Forex Commentary January 5, 2010

January 5, 2010

Reversal Bottom Sets Up Potential Dollar Rally

The U.S. Dollar was able to mount a comeback after early session weakness. A lower than expected U.S. pending home sales report helped raise fears that the Fed would once again leave
interest rates at historically low levels and fueled increased demand for the Dollar as a safe-haven investment. Oversold conditions also contributed to today’s rally. Today’s closing price reversal
bottom indicates the start of a 2 – 3 day rally to 77.77 – 77.93.

The …

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