UFXBank Daily Review - March 22, 2010

Written by ForexCult Team
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Daily Review 22/03/2010 

USD Dollar (USD) –
The Dollar strengthened against most majors after the Dow Jones Industrial Average fell for the first time in nine days, damping demand for safety assets. NASDAQ and Dow Jones decreased by 0.71% and 0.35% respectively, crude oil weakened  by 1.8% closing at 80.68$ a barrel, Gold(XAU) weakened   by 1.78% closing at 1107.6$ an ounce. Today, Treasury Sec Geithner Speaks.
EURO (EUR) – The Euro recorded its biggest weekly drop against the Dollar since January as concern Greece will fail to secure financial assistance from the European Union lowered appetite for the currency. The EUR/USD has been trading downwards in the last three days therefore a sort position is preferred, the main support is 1.3450. Overall, EUR/USD traded with a low of 1.3503 and with a high of 1.3627.Today, ECB President Trichet Speaks.
EUR/USD – Last: 1.3515

   1.3545    1.3625    1.3695
Support    1.3500       


British Pound (GBP) &ndash