Simultaneous Release at www.thegeekknows.com
Hi all where ever you are in the world. Good Morning, Good Night, Good Afternoon!
Our currency pair packed a punch today just like a Sh?ry?-ken from Ryu of Street Fighter.
Having touched 1.4800 exactly, it triggered a stream of happy fellows hitting their take profit levels.
The weekends came early i guess.
Hope you are one of them and not the one paying out the profits!
If EUR/USD is Ryu, S&P 500 definitely is Ken!
Having cleared 1060, assaults began early at the next technical level 1080.
Everyone seems to be glowing with positive sentiments. Equities all over the world are partying as though the best guest DJ is in the house.
Oil tries to join the club, hitting resistance at $70.
Gold, our recent winner stands proud at a towering $1052 as of now.
ECB minimum bid rate announcement came and went. It is business as usual at 1%.
European Central Bank President Jean- Claude Trichet said interest rates are “appropriate.” This apparently suggest that interest rates may remain as so for now.
Anyway i guess the traders would have priced this in already and hence EUR/USD remains cool about it.
With our 3 main clues for the markets, S&P 500, Gold, Oil being upbeat and climbing, weakening pressure on the US Dollar should be strong.
Bull Forces will need to conquer major line 1.48 before embarking on a mission to take on previous high of 1.4843 followed by 1.4865.
Should the already weaken bears muster enough troops for a counter attack, immediate support probably back at previous high of 1.4719+.
No reading of articles and L4D for me tonight!
I need to wake up early before the sun shines on me tomorrow as i will be traveling to a neighboring country for work.
Expect no nuisance for majority of the day at the forums and celebrate that out of my sight ok?
Trade Safe ~
You can visit my blog for more EUR/USD and forex articles.
Discuss with me over at forums.fxinstructor.com!