Simultaneous Release at www.thegeekknows.com
well this is it! The last post of 2009. How’s preparations for the parties?
If you ask my honest opinion, one is better off preparing for parties! I have circled the past few days’ candles and we can see the wild ranging party of the EUR/USD.
Looking at the sharp green candle today, the surprising fact is as of now, i have not received any report of anything significant to have caused that. This is a great example of how low volume conditions may result in unexpected spikes.
These are instances whereby proper money management may save your account if you are always on the wrong train!
Gold and oil are pretty much flat. Gold is at $1090+ while oil is at $77+.
Take a look at my chart above and observe the lines. In light of the low volume, technical levels may play a stronger role and I REALLY LIKE IT WHEN MY CHART WORKS! ( Ha, bet you didn’t see that coming eh? )
Do be reminded that we have unemployment claims for the US up next and further spikes may be caused in view of the light volume.
Bullish pressure may test 1.4445/80 while bearish relief may seek 1.4400/1.4362.
Me, the one and only Geeky Koala will like to wish you and your families a great upcoming 2010 and may you harvest more and more pips!
Trade safe and party safe!
Read more Forex Articles and Views by The Koala at www.thegeekknows.com