Forex Analytics from LiteForex of 04.11.10: Dollar’s rise can be continued today

The pair EUR/USD is traded with no sharp movement at the Forec currency market this morning following dramatic surge yesterday.
By 10.50 Moscow time the Euro is at 1.4132 against closing session level of 1.4132 yesterday.

Activity was quite low at the currency market in the last two days as investors awaited the outcome of the U.S. Federal Reserve meeting. The meeting resulted in maintaining the interest rate in the target range of 0-0.25% per annum and QE program volume was declared in the amount of $600 billion which was above market expectations and the USD was drowned. The Euro which had been traded close to the level 1.400 for the whole day soared to 1.4153 immediately after the announcement of the FR decision.

A lot of statistics is scheduled to be released today – the interest rates decisions of the Bank of England and ECB will become known today, the U.S. employment data excluding agricultural sector will be released this afternoon, press conference of the ECB head Mr. Trichet will also take place today.
Most likely the pair EUR/USD will not go beyond the range of 1.4000-1.4200 on Thursday trading session.