Simultaneous Release at www.thegeekknows.com
Good day to all!
To my US readers, how was Columbus Day? Hope you had a good day.
The EUR/USD marched past 1.4843 which was our previous high and took on the September 22 08 high of 1.4866.
Seems like the triple signals we got on my previous article was right on!
*Chaps *Cheers *Party horns
Piercing through the two resistances like a dagger, the currency pair rests at the lower 1.48s at the moment.
S&P 500 starts the day lower amid negative sentiments on financial stocks.
From a technical point of view, it seems like a possibility to be bounded by the 1080 and 1060 region
If this happens, the EUR/USD may likewise develop a similar consolidation behavior.
Gold remains defiant at around $1060.
Oil managed to shrug off usual negative sentiments and remains above $71
What struck me as interesting was that despite the German ZEW Economic Sentiment clocking in lower, no harm was done and the EUR/USD continues on like a steam train.
If you ask the seasoned traders in the markets, you will always hear that October is usually a bad month for equities.
I will be looking out for it and the effect it has on the currency pair.
Being the risk averse person i am, as the EUR/USD gets closer to 1.5000, i will be on the alert for any surprise.
The amount of orders triggered there may pack some punch!
Next bullish resistance after 1.4866 shows up as the 1.4910 area from way back 2008 Feb for me.
Bears if they manage to garner any, needs to reclaim 1.4800 followed by previous high 1.4719.
Once again, my addiction ops i mean dedication to my blog has drove me way past my sleeping time.
To make things worst, i need to clock in at work early tomorrow.
Recently, i am rather hooked onto this game call BattleForge, it is a free to play game. Rather interesting.
Should i or should i not… hmmmmmmm
You can visit my blog for more EUR/USD and forex articles.