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Dollar Erases Gains on Monday Late NY Session

Posted on September 29, 2008 at 18:14 in Analysis by James Chen

During the afternoon (New York session) on Monday, the dollar erased much of the gains made earlier in the day. This occurred via sharp, erratic dollar-weakening moves. Further details to come as the primary directional bias settles in.

- James

3 Responses to “Dollar Erases Gains on Monday Late NY Session”

on 29 Sep 2008 at 7:41 pm1St_Fx

Hi James,
“Further details to come as the primary directional bias settles in.” see the chart development of 1hr and 4hr of euro and kividollar (and other major’s),we have seen break down yes also in weekly chart as well, who would you see these developments and week ahead .
thanks
on 29 Sep 2008 at 7:47 pm2St_Fx

how would you see these developments and week ahead(short term),is it indication of completion of correction, resumption of bearish trend.
on 29 Sep 2008 at 7:55 pm3James Chen

Hi St_Fx,

Thanks for your comments. I have generally been bearish recently on the dollar, so I was looking for any possible continued rise in the majors like EUR/USD and GBP/USD. As the impact from today’s events continues to be digested by the market, I will post more on my directional outlook for these pairs. Thanks, St_Fx!

- James

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3 Responses to “Dollar Erases Gains on Monday Late NY Session”

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