Simultaneous Release at
Good day forex trading koalas!
Once again i could not find time to squeeze a review out and i apologize. Trying to rush and producing a half baked review is not the forex koala’s style.
However much and i mean REALLY much things had happened since we last spoke. Take a look at the EUR/USD chart below.
1) The empty space to the right in this 4 hours candle chart indicates that the downwards momentum was a strong one.
2) As i mentioned earlier, the EUR/USD stepped on it’s break when it reaches the 1.28 level. Having said so, it went below it for some time before retreating upwards. Support and resistance lines are never a single pip.
The S&P 500 is depressed and sentiments are low.
Oil did a reverse and is now trading at $76+.
Gold… GOLD is UP UP UP. Trading at $1214+ despite a stronger US dollar indicates that this precious metal has not lost it’s shine when it comes to tough economic times.
And based on all of the above, i can probably conclude that this is a classic koala classroom example of RISK AVERSION.
While you all stare in envy of my koala almighty-ness, i will like to mention that this flight to safely is probably a very emotionally charged one. Typical of knee jerk reactions, it was fast and sharp. Now look at how it braked when it reached 1.28 ( another emotional level ). The currency pair is simply not ready to go lower for now. ( Unless more adverse news pop up )
Besides the FED’s decision, we were also treated to a handout of poor depressing export figures. Yes, the US’s exports dropped. No good for the economy!
Today brought more depressing figures from both sides of the Alantic and hence the currency pair struggles to find a bearing. Watch out for tomorrow which include the German Prelim GDP and US retail sales. Proper money management is CRUCIAL.
Like my chirpy self today? Guess i got tired of being all grumpy always. HOWEVER THIS DOES NOT MEAN I AM NOT FEELING #@$!@# ABOUT MY CRAZY WORK !!
lol got you there. Trade safely and i’ll see you soon.
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