Federal Reserve

The Federal Reserve through financial rescue plan will begin to provide assistance to needy institutions, but the market is more aware we can say, monetary policy over interest rates that the Fed will release and so will other Central Banks. While it is estimated that the rest of the foreign exchange volatility levels remain within preset ranges. The maximum record book in the 1.7660 area and then go back and reach 1.7500. EURO improved in sympathy with the CABLE with highs in the 1.3744 area and then fall as it did the Euro, the lowest in the area of 1.3479, representing technical minimum, suggesting that approaches the stop. In my view the dollar was over-defendant and there will be mass sales. I would advise buying euros and pounds at minimum, the market should give us one more chance this week. The USD / JPY volatility was dominated by the recorded values in the area of 103.30, then fell and traded at 101.70, the pair is recovered when it was announced that Australia's central bank reduced interest rates. The USD / JPY given the speculation about coordinated cuts in interest rates by several central banks, is keeping the yen in shape and number of operators expect the USD / JPY falls short term. In my view the USD is heading towards the break of the lows. GBP / USD Daily Resistance 3: 1.8180 Resistance 2: 1.8050 Resistance 1: 1.7880 New York: 1.7493 Support 1: 1.7310/20 Support 2: 1.7280 Support 3: 1.7200 The pair traded at low levels of support in the 1.7300 area.