Simultaneous Release at www.thegeekknows.com
What a ride!
Just barely 4 days later and the currency pair is back to test 1.4800.
After Friday’s correction, retracement, profit taking or what have you, the EUR/USD rushes up together with the other non-US dollar currencies despite being a bank holiday in the US.
Our market clue the S&P 500 seeks to test 1080 bringing with it a strong bullish momentum as seen with the solid green candles.
Oil is currently above $70, aiming to go to the top of the range at the $75 region.
Gold is our superstar now, at a towering $1055. If it continues at this rate, say goodbye to the wedding ring
So what we have here is the triple clues screaming out “A WEAK USD.”
Although the US has spoken about the policy of a strong dollar, we have yet to see concrete actions in support of it.
Next resistance in the house will be the previous high of 1.4843.
Should the bears regain the action, lookout for previous high of 1.4719.
Quite a few important releases coming up including the likes of German ZEW Economic Sentiment, US Unemployment Claims. Interesting
While we busk in the light of positive sentiments, unemployment rates aren’t exactly something to be proud of.
Monitor closely for a breakdown of sentiments if any.
It is Monday! I’m blue da ba dee da ba daaaaaaaa.
Let me retire from work already Forex!
You can visit my blog for more EUR/USD and forex articles.