EUR/USD Daily Review 24 Dec 09

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Silver bells, silver bells

It’s Christmas time in the city

Ring-a-ling, hear them ring

Soon it will be Christmas day.

Hi koalas ! It is Christmas Eve :)

Are you ready for Christmas? Is the tree decorated ? :)

After the poor home sales, the EUR/USD continues it’s bullish run. Being a day low in volume, it may be easy to push the currency pair around a bit.

For our equity folks, Christmas came early for them! With positive news such as lower than expected unemployment claims in the US, the S&P 500 continues it’s bullish run. While it is above 1120 for now, let’s hold our horses to see if it clears the resistance decisively. In the meanwhile, let’s see the Wall Street folks do the jingle bells ! ( Unless they are short lol )

Oil in the meanwhile climbs slowly at around $75+. Seems like it wants to be part of the festive celebrations. You got to do better oil!

Gold has crept above $1100. It is determined not to be branded as the loser and of course the poor home sales the other day did enough to shaken some investors back to the safety of it.

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The EUR/USD has retreated from above 1.4400 for now. This is not surprising as 1.4400 is a strong technical resistance. Besides, the better than expected unemployment claims in the US probably reined in the bulls as investors seek US asserts again.

As the day closes early, be careful of profit taking and spikes on both sides.

Bullish dash before the holidays may see 1.4400 and 1.4445.

Bearish pressure may cause the currency pair to hang around 1.4362 and 1.4325.

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I watched Avatar the movie today! A fine movie i must say. I watched the film in 3d and the effects were great. I can’t help linking the blue folks to the night elfs from World Of Warcraft. Same nature loving, great tree etc. LOL

Anyway enjoy the parties but please… trade safe and party safe !

DO NOT DRINK AND DRIVE.

Take care and see you soon :)

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