EUR/USD ping pong


Hi Guten Tag bonjour konnichi wa moin moin boa tarde buenas tardes vanakkam

ok my first attempt to be international!

Sorry if i did not include your hello but if i do all, my post will be pages!!

hmm i better stick to. Hello folks! How is the day treating you? Fine i hope.



The currency pair is currently bouncing around and this is expected since we have

several important news this week.

Before i proceed to talk about our market clues, i will like to present to you the

Ben O Trich Indicator !

Exclusive to TheGeekKnows.com and not available at the other partner websites! YES YOU ARE AT WHERE IT ALL HAPPENS!

Basically, we will go through our usual clues, the S&P 500, Oil, Gold and lastly what me The Koala / Geek / Freak whatever feels about the current chart action as per usual right?
( Btw, the last factor is the most inaccurate in my humble opinion. HA ! i like putting myself down)

Now if that particular point is probably beneficial to the USD, we will award 1 Bernanke !

If the particular point is probably beneficial to the EURO, we will award 1 Trichet !

If we have 2 V 2, we may get consolidation

If we have 3 V 1, probably strength towards the currency with 3.

If we have 4 V 0, most likely towards the currency with 4. ( Remember NO HOLY GRAIL hence no 100% )

Now read this important statement.

The Koala / Geek / Freak / TheGeekKnows.com will not be held responsible for anything due to the use / reference / peek / view / whatever of this indicator. Forex is risky and you may lose your money, house, dog, cat, shirt, pants, etc.

Ok ready? Set? Go.

The S&P 500 has been bullish for a few days now and is currently testing 1060. If we clear this line, 1080 maybe next. This may suggest risk seeking is on the move again.

Our buddy Oil, is currently at $79. It seems to have made up its mind and its telling me that it wants to join the big boys on top! Watch out though as $80 may be a strong line.

Gold is our winner today as it is currently at $1092+. We all know that Gold is usually inversely correlated to the US Dollar and hence, you know the drill !

***

While all clues suggest a upside move for the EUR/USD, i will see it with caution. We are all currently near strong lines across the markets and this may further promote the consolidating trend before the non farm payroll.

Any bullish momentum will need to take out the strong region of 1.4843-65.

If the bears take over the show, major line 1.4800 will be in the radar.

And the result is…drum rolls* TADA



The overall sentiment today is more of a risk seeking nature.

We have got good news from companies like Ford helping up the markets too.

A word of caution though is that the we still have mambo jumbo NON FARM PAYROLL and Federal Funds Rate etc etc coming up this week and being the safe trader i am, i will be looking for opportunities to book my profits.

My buddy Casey loves to help newbies in forex trading too so visit him today!

***

Ah it is past midnight for me and once again sleep stood me up. I wake up in the middle of the night too to check on things.

Have i been thinking too much?

In today’s rat race, when can you finally sit down relax and not think about earning your bread and butter?

You know the song? ” dreammmmm … dream dream dream…. dreammmmm “ 😉

Trade safe.

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