EUR/USD Daily Review 11 Jan 10

 @ibtimes
on January 11 2010 10:46 AM

Simultaneous Release at www.thegeekknows.com

Good day to all!

Welcome to another Monday Blue trading day!

Perhaps not for the EUR/USD bulls. Folks bullish on the currency pair were rewarded when the poor US Non-Farm Payroll stopped the US Dollar rally right in it’s tracks.

The S&P 500 is currently red. However these days, the market seems to push it up in the later half of the day. Basking all in the light of positive sentiments! Monitor closely to see if this continues.

With a big portion of Earth locked in ice, Oil remains above $80. Should Oil remains above $80 when spring comes, we may be in a new phrase of economic recovery.

Gold is having a bullish run, probably fueled by the weakening US Dollar as it is priced in it. Currently at $1150+, increasing bullish sentiments due to the rising value may spark a new bullish trend like the prior one.

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While the positive French Industrial Production helped to push the EURO higher, we need to note that the reaction during the last US Non-Farm Payroll may tell us a story.

Folks were hoping that the US is recovering and wished for all troubles to be blown away. Of course the NFP shattered all dreams. Immediately, US Dollars were being sold and it continues after the weekend.

Furthermore, there are reports that China has overtaken the US in the auto business! An industry the US was in the lead since the Model T Ford days.

On the other hand, i will like to remind folks who are indulged in the positive sentiment parties in the other parts of the world to always take stock! Dubai has opened the can of worms by having it’s first home foreclosure. Furthermore, Greece has a problem. It is not fixed yet.

Coming up on the important economic release radar next is the US Trade Balance. Watch out for this as more disappointing data may spark more bullish momentum for the EUR/USD.

Bullish pressure may have us test 1.4520 / 65.

Should the currency pair falls back to the previous range, 1.4480 / 45 may be tested.

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Do you like my new segment covering the US Non-Farm Payroll? Seriously this is a “horror” show that i meant to use to share the dangers of NFP trading. I have seen too much hard earned money of my readers go down the drain :(

At the end of the day, the main priority of TheGeekKnows.com is the koalas. You! Never others. Right from day 1, only you :)

( Yes. You are a koala when you read the koala articles on my geeky koala site :P )

Hope everything helps. One way or another.

Ok i am out of here… trade safely !!! ( need to catch some precious sleep )

Read more Forex Articles and Views by The Koala at www.thegeekknows.com

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