The euro appreciated vis-à-vis the U.S. dollar on Thursday as the single currency tested offers around the US$ 1.4455 level and was supported around the $1.4255 level. The common currency gained ground as traders reacted to positive gains in U.S. equity markets on the first trading day of the year. The common currency gained 2.52% in 2009. Data to be released in the U.S. tomorrow include December ISM manufacturing data and November construction spending data followed by November factory orders data on Wednesday. The all-important U.S. December non-farm payrolls data will be released on Friday and dealers are curious to see if the recent trend of fewer job losses will continue. Federal Reserve Vice Chairman Kohn said there is “no shortage” of tools at the Fed’s disposal to withdraw monetary stimulus. Kohn noted “the appropriate use and sequencing of these tools is under active discussion by the FOMC.” Some Fed-watchers believe the Fed will announce plans to sell small amounts of bonds and other assets from its balance sheet. Other Fed-watchers believe the Fed may be forced to expand some of its monetary stimulus in 2010. In eurozone news, data released in the eurozone today saw the EMU-16 manufacturing PMI rise to a 21-month high of 51.6 in December from November’s print of 51.2 and this also propelled the common currency higher. Orders and output improved as did performance in the French market and this adds to the view the eurozone manufacturing sector will continue to improve in 2010. Germany’s manufacturing PMI reading improved to 52.7 from 52.4. Other data released today saw the EMU-16 December Sentix investor confidence index improve to -3.7 from -5.5 in November. Dealers are paying close attention to the fiscal situation in Greece where European Central Bank and European Commission officials will visit on Wednesday. Greece is planning to reduce its fiscal deficit to 8.7% of gross domestic product in 2010, still sharply above the limits imposed by the European Union. Greece’s credit ratings were downgraded in December on account of a deterioration in the country’s fiscal position. Euro bids are cited around the US$ 1.3885 level.
- #177,424
- Jan 5, 2010 4:34am Jan 5, 2010 4:34am
The euro appreciated vis-à-vis the U.S. dollar on Thursday as the single currency tested offers around the US$ 1.4455 level and was supported around the $1.4255 level....
- #177,425
- Jan 5, 2010 4:34am Jan 5, 2010 4:34am
- Joined Oct 2008 | Status: sideline is a position | 105,124 Posts
those who can, do. those who cant, talk about those who can
- #177,429
- Edited 5:09am Jan 5, 2010 4:58am | Edited 5:09am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
garshid,
are u expecting a reversal in gold for this next session. kindly advise
n my previous post show I did answer ur question right?..
Trailing 200 on..n i did what i say
good luck
- #177,431
- Jan 5, 2010 5:15am Jan 5, 2010 5:15am
- Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts
dreams do come true.
- #177,434
- Jan 5, 2010 5:17am Jan 5, 2010 5:17am
- Joined Oct 2008 | Status: Trader | 3,473 Posts
hi everyone,
Can't trade as I got a puppy last night and he is still very young 6weeks old and extremly sweet. Lets see how cats and dogs go together. Anyway back to trading, 1hr chart is forming a nice H&S will have an alarm on when it comes back up to 1.4455 which would be the right shoulder my sl would be 1.4482 and target would be 1.4335. Otherwise I am not touching it but shorting looks nicer to me as it is on all my time frames below my ma's(24/72).
Good trading and enjoy,
The Cat
Can't trade as I got a puppy last night and he is still very young 6weeks old and extremly sweet. Lets see how cats and dogs go together
. Anyway back to trading, 1hr chart is forming a nice H&S will have an alarm on when it comes back up to 1.4455 which would be the right shoulder my sl would be 1.4482 and target would be 1.4335. Otherwise I am not touching it but shorting looks nicer to me as it is on all my time frames below my ma's(24/72).Good trading and enjoy,
The Cat
Trade on your own risk
Plan your trade&trade your plan dont be a 
- #177,435
- Jan 5, 2010 5:25am Jan 5, 2010 5:25am
- Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts
dreams do come true.
- #177,437
- Jan 5, 2010 5:29am Jan 5, 2010 5:29am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
They think they are smarter than I am.
- #177,440
- Jan 5, 2010 5:40am Jan 5, 2010 5:40am
hi everyone,
Can't trade as I got a puppy last night and he is still very young 6weeks old and extremly sweet. Lets see how cats and dogs go together
Good trading and enjoy,
The Cat
U might be right about the H&S because there is a reversed H&S forming in USDindex also.