Monday, July 5, 2010

The Advisor Weblog

The Advisor Weblog

EUR/USD: Still quiet

Posted: 05 Jul 2010 05:05 AM PDT

EUR/USD is trapped in a 40 pips range, with no much there but waiting for a break; take a look at this:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-07-05.v02.html

Starting the day

Posted: 05 Jul 2010 04:44 AM PDT

Hi everyone and welcome back! Despite holiday is in the US, market seems to be in a world holiday: no movements in Asia, shy ones in Europe, and in general a very soft tone due to the lack of volume; oil and gold are down, and so do AUD and CAD agaisnt greenback, while right ranges persist in European currencies. US data past Friday, disappointed markets, despite private sector created 83.000 new jobs, and unemployment rate decrease to 9.5%, while the economy lost 110K jobs.

If the lack of movements is related to the US holiday and poor US futures reactions, that could well be understood as the market still attached to sentiment, not a minor data. Anyway, we have no data today, so maybe we could take some advantage of this slow consolidating ranges.

Have a great trading day!
Posted by at 5:15 PM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)