Forex Daily Analysis – January 26th 2009
Daily Look

Forex Daily Analysis – January 26th 2009

Yohay Elam
Updated:

Forex trading began this week with a renewed dollar strength. Even USD/JPY went in favor of the dollar rising above 89, and now back at 88.74.

EUR/USD is down to 1.2878, and USD/CHF is up to 1.1638.

GBP/USD is also renewing its fall after a retraction late on Friday. It’s now at 1.3580. Will it plunge below 1.35?  BBA Mortgage Approvals that will be released later in Britain might set the course for the pound.

Existing Home Sales is the major figure of the day. It’s expected to stand at 4.4 million homes, lower than last month’s 4.49 million. Also the  CB Leading Index will impact the US dollar.

All in all, today features very few economic figures. The rest of the week will see lots of data. Here’s the Forex Weekly Analysis.

Happy Forex Trading!

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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