Simultaneous Release at www.thegeekknows.com

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Good day to all.

Pretty much expected, the EUR/USD lingered around the vicinity of 1.5000 for most of the day.

eurusd

I have zoomed out on the daily chart to show you this bullish trend line that i have drawn.

As of now, we are still respecting it.

sp500

S&P 500 looks bearish these days.

Today, news of a strong China growth sparked risk aversion throughout the markets.

Why would a strong growth in a big market like China spark risk aversion?

Traders thought too much into it and speculated that it may prompt China to end stimulus measures earlier and possibly other countries to follow suit.

So much for sell the rumor.

Oil touched $80 and is now around $79. Gold looks shaky and has dipped to $1053.

***

While the cooling off of the S&P 500 may take some pressure off a weak USD, we must not forget about oil and gold which may still pressure the USD.

I will be watching the equities markets closely to see if this global correction develops into a trend.

If so, this may affect the currency pair.

It is possible that we may range around here for a while given the current situation.

Bullish momentum needs to target 1.5 followed by the previous high of 1.5088.

Bearish attacks will need to subdue 1.4967.

***

Thanks to my previous flu vaccination, my flu did not develop into a full blown one.

Nonetheless, i am feeling some aches.

Woke up in the middle of the night. 4am. Logged on to a special place to check on developments.

Nothing new. Wishful thinking on my part.

Hey Hey Hey tomorrow is Friday! TGIF TGIF TGIF

I have a wedding to attend this Saturday. Over here, it is customary to give gifts of cash at weddings. There go my pips! ;)

Trade safe and i hope you have a wonderful day where ever you are!

!!Attention!! We are having a EUR/USD value prediction contest over at my section of the forums. Prize? Bragging rights :P

Oh come on. Join for the fun of it! http://forums.fxinstructor.com/showthread.php?t=3120

Simultaneous Release at www.thegeekknows.com

Follow me on twitter