It is Tuesday and how are we doing?
I spoke about the dangers of an unexpected poor German ZEW Economic Sentiment and the release was indeed so. As expected, it did have an effect on the currency pair. The EUR/USD currently remains sideways, testing and bouncing off 1.5000.
The S&P 500 fell shy of 1100 and bounced back to the lower 1090s.
The march of Gold has paused for now and it is currently around $1103. Looking almost like a perfect doji to me now.
Oil slowly creeps up and is now at $77. Overall, it may be still ranging.
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Besides the poor German ZEW report, a few other reports did not clock in well as well.For example, both French and Italian Industrial Production clocked in negative.
Stay alert as a series of poor news may harm positive sentiments.
Furthermore, we are at strong technical lines for EUR/USD, S&P 500, Gold and Oil and these may add more reason for a bounce off resistance.
Tomorrow will be a US and French bank holiday and the low volume may open up windows for unexpected movement.
There will be an auction in US Dollar Treasuries and observing the take up rate may shed some light on the demand for US Dollar.
You may have noticed that the Ben o Trich Indicator is missing. No it is not! I felt that to attribute an Either This or That stance on each of the clue does not stay very true to the unpredictable nature of Forex and hence i will only do this at the end as an overall bias.
Once again it is only a bias should all things remain unchanged. This means things may go that way if nothing changes. If an unexpected development happens, away goes the bias.
This is forex!
I once again repeat this. NO ONE CAN PREDICT 100% HOW THE MARKET WILL MOVE. IF ANYONE SAYS AND PROVES HE CAN, BRING HIM TO ME AT ONCE! I WILL ASK HIM THE NEXT MOVE AND GAMBLE 100 STANDARD LOTS ON IT.
Ok breath in breath out. Pardon me. I hate it when folks see forex as an easy no risk you tell me and i trade and i win activity.
And today, the Ben O Trich Indicator feels that...
We may see some demand for US Dollar as the menu of poor data today may have spooked a trader or two.
Bullish warriors may need to hold the fort at 1.5000 before approaching 1.5063+.
Bearish attacks may need to overcome the strong region of 1.4950+ before embarking on a conquest of 1.4910+.
Once again because i care and i want to remind you ( perfect excuse for being a nag ), we may see low volume madness tomorrow and hence employ proper money management. Be sure to read more about EUR/USD over at my friend Casey's. He features advanced technical views of the currency pair.
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I felt like a fool today. Tried to make conversation with someone and was taken like a joke.
Why do some people exist just to make people miserable?
This is like stop hunting to me! You know, stop hunting simply triggers your stop, taking you out of your trade and heads back in your direction, mocking and laughing at your misery.
Arrgghh. I feel so stupid to be nice. I feel like going into BattleForge to vent my anger but with my PVP skills, i will become another joke. Forget it. I think i will go read some forex articles. At least they don't mock at me for reading them.
... Duh
Trade safe.
