August 29, 2011 Forex Signals Report

The Euro rose to a one-month high of 1.4548 amid renewed risk sentiment, managing to hold onto most of its overnight gains to open in Sydney at 1.4505. Merger news in Greece between their second and third-largest banks sent stocks soaring in the Euro zone. The mood was just as positive across the Atlantic and when news emerged that damage from Hurricane Irene was not as bad as initially feared, the Dow Jones Industrial average also added 2.3 per cent as insurance and bank stocks rose sharply. An unexpected lift in US consumer spending in July also added fuel to the risk rally. The index rose 0.8 per cent representing the largest monthly gain since February. As demand for safe havens diminished overnight, spot gold, the Swiss Franc and the Greenback were the biggest losers. The US Dollar opens lower against the Japanese Yen today at 76.70.

Now, on to our open positions and new trades. Lets take a look at the specifics: