Simultaneous Release at www.thegeekknows.com
once again apologies for the short post yesterday. I was feeling so sick !
Arrghh and now.. you know the drill… TOMORROW IS TGIF !!!
YES. Finally. One more day and my year end vacation begins.
The EUR/USD is currently consolidating around the strong line of 1.4719.
The S&P 500 has since recovered and is now on it’s way towards the top of the current range, 1115+.
Oil has dipped and is now around $71+.
Our winner turned loser, gold, is tending to it’s wound at $1127+ now. The ride down from $1200+ has taken its toil.
I was observing my usual clues with regardless to this time’s major shift in the markets and i noticed that the only moving markets were
The S&P500 remains relatively untouched. Hence i am speculating that the recent gain in the US Dollar may indeed be a return of some confidence in the US. If true, this may explain the drop in the commodities prices since they are priced in USD.
In a bigger picture, if we are able to determine what theme drives the markets now, for example, the lack of confidence in US or the confidence in the EURO Zone, we may be able to position ourselves better for the long run.
Therefore if the confidence issue in US is the prevalent theme now, a poor release of tomorrow Retail Sales for US may drive the EUR/USD higher. 1.4800 may be the bulls’ immediate target.
On the other hand, a better than expected Retail Sales may spark more positive sentiments towards the US and hence it’s currency the US Dollar. Strong support 1.4665 may be targeted, followed by 1.4620+-.
Regardless of which, the markets are rather volatile these days and hence i will like to remind you the importance of proper money management. Sometimes having no positions may be a wise decision too.
While typing, i had a nose bleed! This is kind of scary as i seldom have one. Of course i just had to clean up and i was back doing my koala articles. When my vacation is here, i promise you more great koala features. Stay tuned ok?
If you enjoy anything koala on my geeky koala blog, do drop a comment etc. It gets lonely doing articles late at night. Trade safe my friends.
Read more Forex Articles and Views by The Koala at www.thegeekknows.com
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