Simultaneous Release at www.thegeekknows.com
It is Monday and yes i am having Monday blues! The fact that i just clocked 13 hours of work makes things even MORE BLUE!
The EUR/USD stage a bluish episode of it’s own and remain undecided for now.
The S&P 500 currently hangs around the 1100 line. Should this line fail, next may be 1080.
Oil has stopped it’s drop for now, valuing around $73.
Gold is slightly bullish, attempting to clear $1100.
As the time draws nearer for the Fed Chairman vote, opinions of all sorts start to surface in the market. We have folks who believe that the chairman will remain unchanged and of course folks who believe that there will be opposition. This apparently created an atmosphere of hesitation and therefore the price action has been light so far.
I mentioned in a previous article about the apparent technical pattern whereby the currency pair will climb slowly for a few days and drop sharply. The candles for the past few days seem to be playing this out again and hence close observation must be exercised.
One thing to note though is that the market seems to be not ready for a sub 1.4 EUR/USD as the price bounced away after it approached 1.4000 the previous week.
We have a number of releases tomorrow including the important German Ifo Business Climate for the EURO and CB Consumer Confidence for the US. Pay attention to these as investors probably see these as indicators of sentiments.
Bullish momentum may bring us up to 1.4200 while a bearish strike may test 1.4080 next.
If you koalas had been following me over the weekend, you would have read the articles i have released. I can’t explain why but i really do feel happy when i do my research and write the articles. I guess part of the happiness come from my interest in financial topics and the thought of being able to help folks understand a little more about the financial markets. I can write all day long!
Needless to say, the 13 hours of work definitely did not bring the same happiness. ARRRGGGHH
Ok i am off to repeat play Eiffel 65 ’s Blue for the next hour.
Read more Forex Articles and Views by The Koala at www.thegeekknows.com