Simultaneous Release at www.thegeekknows.com
Good day to all.
Hope you had a wonderful Christmas. It is during such times we sit back and appreciate our world our family.
This week is pretty surprising for folks calling a bearish drop to the bottom. The currency pair stalled and ended slightly bullish.
However, if you were following TheGeekKnows.com, you would have saw my koala opinion last week that we might be heading towards ranging conditions from a technical point of view. Look at my two circled regions. A possible reason will be the major line of 1.4200.
On a fundamental point of view, the poor New Home Sales in the US probably caused ripples in the sentiments and speculators bailed out of their long US positions. Mulder who sent me a report recently told me that speculators were probably sticking out their heads a little when the US bullish run was on and hence negative news like the poor New Home Sales probably had it’s effect multiplied since memories of the financial crisis 08 were still fresh. Besides home sales is crucial to the economy.
In the meanwhile gold increased in value, probably indicating that there are investors who are bracing for a storm. Gold is one of the preferred sanctuary during times of economic uncertainly. Read my article to find out more.
Next week is a short week due to the New Year Holidays. As usual, unexpected spikes may occur due to low volume. Besides that, we have important releases such as German Prelim CPI and US CB Consumer Confidence and Unemployment Claims. Besides the risk of unexpected spikes, low volume may result in news reaction ruling the price action. We must not forget the influence of 1.4200 towards ranging conditions too. See the economic calender for more upcoming details.
Please trade safely and not let a margin call ruin your holidays!
Read more Forex Articles and Views by The Koala at www.thegeekknows.com