Simultaneous Release at
I fell asleep on my keyboard.
Yes it happened. When i woke up, i saw the half finished daily review staring at me. A drained koala i am.
Much apologies for that.
AND NOW BACK TO THE EUR/USD DAILY REVIEW ! yay!
After an attempt to test the 1.22 support, the EUR/USD gained bullish momentum and seeks to challenge 1.24.
The S&P 500 is currently at 1078+. Bearish signs are observed.
Oil is around $77+. It seems to have stalled for now and this may indicate hesitation on a global scale.
Gold in the meanwhile climbs towards $1250. As gold is often an investment of choice when it comes to uncertainty, we need to monitor this closely.
Continuing the sentiments of the poor US new home sales yesterday, a surge in credit-default swaps on Greece dampened the outlook. I always mention that the Euro Deficit Crisis will be a tough challenge and indeed it is. Looming debt redemption will hit Spain next month. Yesterday, the Federal Reserve mentioned that the European crisis may affect the American economy.
While the US unemployment claims were slightly lower than expected, the job market remains fragile. Sentiments remain low due to the poor US new home sales and the US dollar is suffering because of this. As the effects of the end of the tax credit materializes, we may see poorer performance.
Tomorrow brings the start of the G8 meetings and hence be on a lookout for unexpected spikes. Proper planning of your trades is a must. Other economic events include the release of the US Final GDP.
Continue bullish momentum may take this currency pair back up to test 1.24/1.2440. Should the bears make a come back, we may see 1.2330/1.2300/1.2200.
Continuing my “keyboard sleep” incident, the care and concern showed me a different side of forex. I remember when i was a new trader years back. I often asked many questions as i was totally new. Many a times i faced rejection and sarcasm. I am really happy that the community we have here is a friendly and caring one. No question is too stupid to ask
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