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Joined Apr 2011
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Status: Stock Investor
|107 Posts
The US dollar made gains, including against the other “safe haven” currency – the yen. As one month ends and another begins, will we higher volatility? Important US data is coming our way with ADP Non-Farm Employment Change, Manufacturing PMI and jobless claims which all lead to the all important Non-Farm Payrolls – just days before the elections.
The US economy grew at a pace of 2% in Q3, according to the initial release. This was somewhat encouraging. More good news from the US, weekly jobless claims dropped 23,000 last week below the 371,000 rise predicted by analysts. In Europe, decision time is getting closer for Greece and Spain. Will the US economy continue this positive trend?
EUR/USD slid in range and lost the 1.30 line once again, as the debt crisis issues saw no progress, and as Germany looks weaker. President Draghi’s speech German retail sales and a meeting of the Eurogroup are the major events this week. Here is an outlook on the main market-movers to shape Forex trading this week (GMT+3:30):
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Joined Apr 2011
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Status: Stock Investor
|107 Posts
Daily: With the (8) daily DTosc’s Bear OS, a multi day low should be near completion is not completed at 26 October high at 1.2881, very likely a W.1 or A low. The net trend should be sideways to up over the next few days. Intermediate term long positions should be considered following the next (8) H4 DTOsc bullish reversal. H4: With the (8) and (13) DTosc’s Bullish a multi hourly low should be at or near completion. The net trend should be sideways to up over the next few hours. Intermediate term long positions should be considered following the next (8) H4 DTOsc bullish reversal.
