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EURUSD Weekly Summary: Slipped below the neckline, Euro could hit 1.2700 - 1.2600 next week
The EURUSD had a significant bearish movement this week, made a big bearish candle on weekly chart, hit 1.2900 support area and slipped below the neckline of the head and shoulders pattern as you can see on my daily chart below, suggests potential bearish continuation scenario testing 1.2700 – 1.2600 area next week especially if price able to make convincing move below the neckline and 1.2900 support level. Immediate resistance at 1.3020 (Friday’s high). Break above that area could trigger further upside correction testing 1.3150 region and lead us back to a range market, but unless we have big surprise on Euro fundamental condition that could ...

Good day forex trading koalas.

In the previous EURUSD weekly review we noted that China's manufacturing growth slowed in December and it was the first time in five months. As we all know that many investors see China as a major contributor to the global recovery, this might trigger concerns and hence risk aversion. A fund manager was earlier reported as mentioning that China is a main focus for 2011.

Read the rest of the [URL="http://www.thegeekknows.com/2011/01/eurusd-weekly-review-3-jan-7-jan-11.html"]EUR/USD Review[/URL] here.

Crude oil price (WTI), continues to fall for the second straight day as it decreased yesterday by a moderate 0.4%.

For natural gas spot price there is an ongoing decline for the Henry Hub spot price, yesterday by over 1% – this is the third straight day it has been falling, despite the cold weather and increase in consumption as I have referred to in my last review on the EIA report on natural gas consumption and storage.


Continue reading here the daily recap on crude oil price and natural gas spot price

[B]EUR/USD fell over the cliff. After holding on to the significant support line for quite a long time, it fell off. Even the weak Non-Farm Payrolls didn’t help. Euro/Dollar fell as low as 1.2910 at the time of writing. The move still continues.[/B]
* Post updated 17:40 GMT.
We got some bad figures earlier in the day from Europe. GDP for the third quarter, was revised downwards to 0.3%. It was expected to remain unchanged at 0.4%. Final GDP rarely undergoes a revision in the Euro-zone.
Read the rest of the [URL="http://www.forexcrunch.com/eurusd-breaking-down-to-4-month-low/"][I][B]EUR USD update[/B][/I][/URL].