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Currency Correlations - Out Of Order !
Posted on January 6, 2009 at 3:06 in Fundamental Analysis, Technical Analysis by Jerry Furst


By Jerry Furst- Sr Analyst
at Investors Education Network.com

Currencies are Breaking Out

As 2009 officially gets underway with the 1st full week of trading - the currencies are displaying “unusual” correlations - or the lack there of. For example:

UK Pound Rallies vs The Dollar

While the Euro Breaks Down Against the US Dollar

While the US Dollar Appreciated against the Swiss

The USD-CAD Dropped to a new Support Level

So the above shows that the US Dollar is  by no means moving in the same direction. The current variations of correlations are not acting in traditional ways - this suggests to me that more volatility is likely on the way.  

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Tags: Canadian, Currency correlations, dollar, euro, Forex, Pound, Technical Analysis, trading

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