Good bluish day to all!!!
It is Monday or rather the “how i wish the weekend was longer” day!
The price action seems pretty much bluish today as well, currently confined into a narrow trading range of 1.4930+ to 14990+.
Our buddy the S&P 500 remains bullish at the moment. If you need more indication that it is bullish, count the number of green candles vs the red ones. Ha!
We are now above the 1100 line and should it remains clearly above, this may open up 1120. This will very likely increase risk seeking sentiments.
Gold our champion remains so by clocking a high of $1130+! Man i really need to find that gold wedding ring of mine. Nah, just kidding! We all know that gold and the US Dollar are usually inversely correlated and hence add +1 to the possible bullish scenario.
Lastly, presenting our worst victim of the monday blue syndrome, oil! Oil struggles along at $77+ pretty much the same region for a few weels. Oil has issues and it needs to sort them out.
Earlier, we nearly tested 1.5000. While this is still a possibility, look towards the usual clues for risk seeking momentum first.
I am reading forex calenders that Fed Chairman Bernanke will be speaking a few hours later. You may want to note that as any possible statements or even mere speculation of otherwise harmless statements on any future policies may produce unexpected swings.
Well he is the man after all!
Bullish developments may result in a retest of 1.5000 and after which the 1.5060+ region.
Bearish momentum may bring the EUR/USD down to 1.4950+ and further on to 1.4910+.
Hmm, i am coughing and having a bad throat. Add on the feeling of aches and chills.
Arrghh i think i have got the flu bug. Blame it on sleep! I usually read up on forex until 1am and wake up at 7am. I doubt 6 hours of sleep is sufficient.
I cant wait for the day modern medical science invents the sleep pill!
Pop one in and it is equivalent to 2 hours worth of sleep.
That will be excellent!
You can read other views on the EUR/USD @
Trade safe and follow me on twitter ya?