Monday, February 14, 2011

EUR/USD

Last week's rejection from 1.3750/85 resistance area has set the pair under bearish pressure, according to Karen Jones, technical analyst at Commerzbank, who foresees further weakness this week, with the the pair drifting towards1.3355 area.

The Euro is likely to extend losses this week, according to Jones, who points out to 1.3355 initial target: "We look for further losses this week towards initially the 55 day ma at 1.3355. Below here we look for losses to extend to 1.3108, the 200 day ma."

On the upside, above 1.3625, bears could lose strength, which, according to Jones, could allow for recovery towards 1.3750/85: "We are currently trading below the 20 day ma at 1.3625 and while capped here, will regard the market as directly offered intraday. Above here would allow for a retest of the 1.3750/85."

Asian stock markets have opened the week on strong note, with demand for risk boosted by Mubarak's resignation in Egypt, which has decreased concerns about the stability of the whole Middle Eastern region.

Oil prices have eased to prices about USD86 a barrel, as the situation in Egypt returns to normal, and fears about an oil shortage faded. In currency markets, the Dollar pulled back against Euro, Pound and Yen.


Japanese Nikkei has risen 1.1% each, while the South Korean Kospi Index surged 1.9%, and the Hong Kong Hang Seng Index and Australian ASX Index advanced 1.1% each. Chinese Shangai Composite Index rose 2.2%. Markets in Indonesia, Taiwan and Singapore have also traded higher.

source: http://www.fxstreet.com

today is going to be payday, already made 500$



17 comments:

  1. Interesting. I was wondering how Mubarak's resignation was going to affect the markets. I'm surprised the effects reached all the way to Asia.

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  2. Good infos. My IRA jumped up this morning as well. :)

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  3. Great to read your blog and be updated on the worlds economics.

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  4. God damn, the GBP £ is doing rubbish to everything!

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  5. Interesting article. I really enjoy all this new info.

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  6. it's more interesting for US to have a powerfull €

    and it same for some country

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  7. might get back into currency trading when i pull my money from brazil. Was converting 100/week to brazilian reais, in 2004. 1usd=3.2 brs. now 1usd=1.6brs. 100% gain plus intrest.

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  8. Very informative.
    I hate having to rely on Google and some stupid Apps to do all my currency calculating/informing for me haha.

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  9. I tried getting into currency trading. I couldn't stay interested. I still don't even know what the hell a candlestick is. I'll just stick to stocks. Nice job on making that money!

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