The USD showed strength in the FOREX market yesterday with a confidence booster from the ISM Manufacturing PMI, the Construction Spending m/m and ISM Manufacturing Prices. The value of the USD is very appreciable sending the Euro to a record low level of 1.03376. A level last reached in January, 2002.
Traders should watch out as the pair EUR/USD may plunge further and find a new low at 1.00919. This a good time for the USD in the trading market, the last time the pair played around this region was 16 years ago.
Will the USD current strength sustain till January 20th when the highly controversial 45th President will be sworn in.
Below is the daily screen shot of the EUR/USD chart.