EUR/USD Daily 3 Feb 10

Heyo Koalas!

The EUR/USD took a dive and heads towards 1.3880.

The S&P 500 falls slightly, having tested the resistance of 1100.

Oil climbs to $75+, suggesting new demands.

Gold falls to $1109+.

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Who let the bears out? WHOO WHOO WHOO.

Disappointing results at companies like Pfizer probably brought along some negative sentiments. Furthermore, the ISM Non-Manufacturing PMI came in lower than expected.

Remember my comment about how the currency pair usually bear big time after a few days of slight bullish momentum these days? Pay close attention to this technical probability.

On the other hand, the ADP Non-Farm Employment Change came in better than expected. As the unemployment problem in US is bad, a better than expected result in this department will probably draw some attention. This may have helped cushion some of the US equities fall. With this, investors may look towards a better than expected NFP this Friday. Be careful here, margin call friday is not named as such for no reason!

We have the Eurozone’s Minimum Bid Rate release tomorrow along with the ECB press conference. Watch out as investors scan the conference for hints of future policies direction. US Unemployment Claims is released tomorrow too. As of all important releases, be careful of unexpected spikes.

I was reading an article about Greece winning the backing of the EU for its deficit plan. While this is a change for the better, watch out for hiccups. Sentiments may recover if more positive developments occur.

Bullish comeback may see us at 1.3940/1.4000.

Increased bearish momentum may have us testing 1.3880/00.

***

I was at a concert the other day and i managed to get great seats. Being up close to the singer is great! Compared to the usual “ants” view of the singer this is superb. Now now now of close things cant be all that good right? INDEED! THE MUSIC WAS SO LOUD THAT AFTER THE CONCERT, I HAD PROBLEMS HEARING WELL FOR A FEW HOURS!

omg. so much for a front row seating.

Trade safely!

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