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today is Thursday. You know the dance come on… TGIF IS TOMORROW !!!!! yeah !
I am so looking forward to it.
The currency pair retreated after a test on the previous high of 1.5140+.
Currently it sits between the region of 1.5063 – 1.5088. I LOVE IT WHEN MY CHARTS WORK!
While the S&P 500 did attempt to break clear of the de facto resistance at 1110+, as spoken yesterday, it seems to have bounced off for now. Folks may wonder why the better than expected unemployment claims data in the US did not push this sky high. Well do note that after all, employment rate of the US is still at a record high! We will probably see more testing of the resistance though.
Oil remains around $78+ -. Ranging for ages as the industries struggles with the economy recovery.
Gold in the meanwhile eased off slightly, currently around the $1210+ zone.
Koalas, tomorrow is .. NON FARM PAYROLL !!! mambo jumbo margin call party time! Personally i am a risk averse koala and i don’t hold my short term positions around then. Dips of 100 pips are not uncommon and you won’t want to be on the wrong train!
Long term outlook remains bullish as the weekly trendline has not been breached yet.
Bullish pressures may test the previous high of 1.5140+ again.
Bearish surprises should target clearing the area of 1.5063+ and followed by 1.5000.
Do you like the new forex / commodities prices? How about the economic calender? I hope you do! I am so glad the weekends are coming soon. I need to rest more as my cough is coming back. I’ll see u all soon.
Read more Forex Articles and Views by The Koala at www.thegeekknows.com