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Good day forex trading koalas.
I know these days i seem to be missing reviews here and there but trust me, it is not that i can help it! Falling asleep while typing or having a fever like yesterday. ARGH!
MUCH APOLOGIES !
On Tuesday, we saw the EUR/USD going down due to risk aversion. Strikes in Greece, poor US data, etc.
Looking at the EUR/USD now, we are definitely seeing a different story.
The S&P 500 is suffering at 1027, a major hit to sentiments probably.
Oil is lower at $72. As oil can be a clue to the global economy’s health, $70 will be an important line to note.
Gold in the meanwhile drops to $1207+. As gold is usually a good indication of risk aversion, this is interesting to note.
And yes, today’s price movement is probably not risk aversion but rather a drop in the sentiments towards the US.
US continues to print poor economy data. Unemployment claims rose and pending home sales clocked a shocking -30% !! Seems like the end of the tax credit is taking it’s toll. Investors are definitely dismayed and hence funds flow away from the US Dollar faster than you can say ” bye bye !”
Ok i am exaggerating but you get my point.
On the contrary, Euro Zone is getting a boost from a successful Spanish bond sales. This gave investors more confidence that the Euro Zone Crisis is under control and hence resulted in a pull factor in the EUR/USD.
Tomorrow is an important data day, including the MARGIN CALL FRIDAY EVENT!!! Yes. US Non-Farm Payroll. Judging how fickle the market is these days, plan your trades well and before of spikes.
Bullish momentum may see 1.25/1.255. A bearish return may see 1.244/1.240
I have been sick since 2 weeks ago and i really want to get better. Since i do not have the luxury to sleep, what else can be done? It is a vicious cycle. In the event that i unfortunately cannot do a review again, my dear readers do take the time to explore the site. I took great pains to produce the articles in the Koala Forex College so as to help as many as possible. Check them out!
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