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Good day EUR/USD fans!
Tomorrow is Friday and i hope your trading is well so far.
Yesterday, we explored the various market themes. In particularly, the negative outlook in the US seems to be driving investors towards the Euro.
Looking at the EUR/USD chart, we are at the line of 1.3090. We must remember that support and resistance lines are never a single line and hence we need to monitor if the line proves to be a resistance. After all, I LOVE IT WHEN MY CHARTS WORK !!
A quick update on the market today, investors seem to continue to shun away from the US dollar due to concerns over the fragile recovery. The US unemployment claims did not show any remarkable improvement and hence traders are probably worried of the labor market issues. Compared to the Euro Zone, the German Unemployment Change came out better than expected and is definitely an attraction for investors’ risk appetites.
However the koala is always mind of both sides of the coin and just today, Greek truck drivers protest against the government plans to open up the freight industry, This is part of the condition upon accepting the loan package from the EU / IMF. This protest is causing shortages of fuel and tourism is affected. This serves to remind us that the Euro Zone crisis is far from over.
Tomorrow marks a day full of economic releases. As always, trade with caution
Remember some time back i was talking about aliens and x-files. Had a conversation today regarding corp circles. Do you think aliens created them?
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