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Dollar scenarios after the FOMC meeting minutes, Bernanke

The greenback declined against most of its peers. Last night, after a very quiet European trading session, the dollar started to weaken strongly. The dollar index tumbled after Bernanke said the US economy still needs stimulus because the inflation and the unemployment rate are below target.

These words can affect the dollar in the longer term, so today we are going to have a very choppy day. What we see now is that the 20 days dollar strengthening period is over by now.

Technically the EURUSD could make a correction today and get back to test the 1.3000 level, but afterwards it could recover again, I bet on the bullish trend until end of this month.

EUR USD 1 hour chart July 11 2013 after the big Bernanke boom



Blindfoldedmonkey is a daytrader and money manager who has spent more than 10 years in this business. Risking his own money each day in the market and working for some funds as money manager and adviser. With many years of experience, he developed a system, which called - "Fractal Trend & Contratrend". This system is a complex trading solution for the forex markets. He writes often fx analysis, holds forex seminars and webinars, already teached many hundred traders about how to approach the markets in practice.