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Good day forex trading koalas!
First day of the week and four more to the weekend
Last Friday saw the EUR/USD going below 1.28 and 1.272. A comment by a European Central Bank council member about the need to continue stimulus measures until the end of the year probably shook investors sentiments with regards to the Euro Zone.
Risk aversion surfaced and probably brought the EUR/USD down.
Looking at the EUR/USD chart above, the 1.272 did indeed serve as a resistance for now as mentioned last Friday. Furthermore, the pair tested the line of 1.2645 before easing off for now. I LOVE IT WHEN MY CHART WORKS!!
With the economic data mixed today, the currency pair remains bounded by the two lines.
A report stated that the Fed has lost a bid for the review of the bailout disclosure ruling. This ruling requires the disclosure of documents identifying financial firms that might have collapsed should there be no U.S government bail out by the Fed.
In another report, the dull of the housing market may be a risk to the US economy as housing activities usually spur economic growth. With the lack of such and together with other factors such as the fragile employment market, the recovery may slow or even stall. The end of the federal fax credit in April further endangers the situation.
Tomorrow’s economic data lineup includes the US existing home sales which is a crucial topic.
I love to ponder about things and perhaps sometimes too much. Life is all about choices and sometimes you make wrong choices. Alas life is not a computer game and you can never hit the retry button.
Now how do you make sure you make the right choices always?
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