Thread: Dollar on Rise for how long

The US dollar gained against most of its major counterparts as the concerns about the outcome of Greece’s vote for the bailout. The hopes for Greece among some investors allowed the euro to bounce after the decline.

The European Union leaders approved the €78 billion package for Greece, but now the Greek parliament should accept the measures necessary to get the loan. Many investors don’t believe that the austerity will pass the vote and such outlook drives them to the safety of the greenback. Yet other traders hope for the better and currencies fluctuate as one or another sentiment gets upper hand.

EURUSD will be on the rise for the course of the week. This is based on the IT Cross setup and a current uptrend.

We constantly hear the value of the dollar in the news. The value of the U.S. dollar, effect on the overall economy. When the value of dollar goes down it is bad to the US but the gas, coffee, grains go up due to this.

Originally Posted by ITtrader

Yet other traders hope for the better and currencies fluctuate as one or another sentiment gets upper hand.

Who are the other traders?

I don't think the dollar is quite that strong right now but thank goodness gas prices have come down a bit for us. I think that the world as put so much emphasis in the dollar that if it fails the world pretty much fails.