Simultaneous Release at
Good day forex trading koalas.
I hope you had a great weekend!
Today is Monday but i am not blue.
No blues to be seen in the EUR/USD for now too.
The US is closed for a bank holiday today and this is reflected in a classic low volume trading pattern as seen above.
One point i will like to touch on is the better than expected Euro Retail Sales today. It hardly caused any movement in favor of the Euro. This suggests that the recent upwards momentum may indeed be the theory we explored that the market is simply going in favor of the zone that is not as weak instead of the zone that is more outstanding. If this indeed turns out to be true, we may see the US Dollar strengthening again as soon as the poor data flowing out of the US stops.
Tomorrow brings us the US ISM Non-Manufacturing PMI. This is a popular leading indicator of economic health and hence may spark some momentum. Please remember to practice proper money management.
Any bullish momentum may test 1.2600 while bearish attacks may see 1.25/1.2440/1.24. Please be reminded though that support and resistance lines are never a single pip!
Why am i not blue? This is because i am toooooooooooooooooooo busy at my crazy work to even be blue. Serious! However i am very concerned about my own health. I have still not feeling 100% since the problems began 3 weeks ago.
If i can only make my ends meet via farming, that will be great! Maybe i should start practicing on farmville facebook. LOL
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