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EUR/USD Daily Review 22 March 10

Good day Koalas!

It is blueeeeeeeeeeeeeeee Monday. Hope your trading is bringing the colors back at ya 🙂

The previous week closed on a bearish note. With the Greek deficit crisis facing one complication after another, investors are apprehensive and risk averse. With the looming debt redemption obligation of Greece, there is an urgency to have a concrete resolution.

Let us take a look at today’s EUR/USD.

Fellow koalas, take a look at this chart. What do you see? A TIME FOR ME TO BOAST SHAMELESSLY !!

YES. I love it when my chart works! Volatility is on the move this Monday as the currency pair tested both sides of the lines. Note the bounce once it touches the 1.3455 line.

S&P 500 is on the rise, jumping right up above the line of 1160. While this suggest a risk taking sentiment, a review of the latest EUR/USD and S&P 500 correlation review suggest that we should not allocate a huge reliance on this.

After a dip, oil has recovered to almost $80.

As gold is priced in US Dollars, the stronger US Dollar is mounting pressure on it and it is currently at $1098+.


While the markets seemed to be destined for another bearish day, something happened and it may have saved the day.

The US House of Representatives passed a health care legislation that paved the overhaul of the health industry. As this is considered by many as a significant and positive event, we may see an uplift of sentiments and a temporary masking Greek deficit crisis. Having said so, you can never stop a fire with paper. Greek’s problem will need a permanent fix.

I read an interesting report today and i will like to share it with you. It has been reported that the two year notes of Warren Buffett’s Berkshire Hathaway Inc yielded less in February than notes of a similar tenure of the US Treasuries. This indicates that investors view the US Treasuries as being riskier than Berkshire Hathaway Inc ! Folks i mentioned before that the US is not in a great shape. Unemployment problems, prolonged low interest rates, etc. Monitor developments closely.

Tomorrow brings us a number of economic reports including the US Existing Home Sales. As home sales spur economy activities, watch out for adverse developments.

Bullish pressure may test 1.3550/600.

A strike by the bears again may see us testing 1.3455 again.


Had a very busy day at work. 101 things on my mind with so little time to spare! On a brighter note, i was so busy that i did not have the time to be blue. Serious lol.

How is your Monday so far?

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