Simultaneous Release at www.thegeekknows.com
I woke up today looking at my chart and had no memory of the non farm payroll.
The currency pair shrugs along, oblivious to the fact that unemployment is bad.
In the previous article i said that the “risk aversion” fundamental days may be over soon.
Perhaps. Perhaps. Perhaps.
A steep trendline has developed and it seems like sending the EUR/USD to the skies.
Note the turning point of the trend. NFP Friday.
I like to imagine alot and imagine that this is the sign that folks are done with the US Dollar!
Scary to think of it when my dividends, investments are in USD
Our friend the S&P 500 happily takes a stroll in the park riding on the breeze of positive sentiments.
The surprise rate hike by the Reserve Bank of Australia suggests good economic outlook and brought up equities and commodities.
Needless to say, the US Dollar was denied entry to the party.
Oil approaches $70 while gold makes a HIGH of $1038!
This bears much significant.
Especially when we know that gold is usually inversely correlated to the US Dollar.
The bullish momentum seems strong as they defeated the previous high of 1.4719 easily.
Next in line should be major line 1.4800.
They are definitely aided by the positive sentiments following around the world.
S&P 500, oil and gold are all gaining, giving triple reasons for selling pressure for the US Dollar.
Should bearish momentum develops, expect first line defenses mounted at Monthly R2, 1.4670+
Do note that ECB President Jean-Claude Trichet is scheduled for a speech later this week and do keep a look out for pro- US Dollar statements should the current EURO value be undesirable for the EU.
Some of my readers commented that i seem so hyper at the forums and twitter. Frequent updates and posts.
Yap that’s me!
When i am on to something, my passion sets me up like an excited rabbit. Perhaps even a nuisance to some.
I clocked only ten hours of sleep for the past two days as i was reading articles, looking at charts, happily interacting with readers, newbies, oldies, people who like me, people who find me a nag, people i know, people i do not know and do not wish to know. LOL
I better sign off here before i start another round of typing. The next time you see me and i am like this, give me a knock on my head and say CHILL !
To those that do not like my style, my sincere apologies but i really can’t please everyone.
By the way, i finished the FREE add on Left 4 Dead campaign Crash Course .. . on NORMAL haha.
You can visit my blog for more EUR/USD and forex articles.
Discuss with me over at forums.fxinstructor.com!