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Market Review - 06/01/2011 21:36 GMT

Euro falls below $1.30 level to a 5-week low against dollar

The single currency tumbled to a five-week low against the dollar on Thursday as the recent release of upbeat U.S. economic data painted a rosier picture of the US economy while worries over the European sovereign debt crisis continued to pressure euro. Traders would pay attention to the release of U.S. non-farm payroll data due out on Friday following the strong ADP jobs data released earlier this week.

The single currency remained under pressure after meeting renewed selling at 1.3170 in Asian morning on lingering concerns over European sovereign debt crises. Price eventually edged lower and once ...

Welcome to the FXReturn.com London Forex Market Call for January 7th.,2011. GBP/USD: Closes near the lows of the session as the market rejects the 1.5550 region. A breach of 1.5432 will encourage selling down to pivot support at 1.5344 then the September 7th. low at 1.5295 as consecutive closes below the 30 day average will keep the bearish posture of the market in tact. A recovery, however, of the 30 day average will spark a rally into the December pivot high at 1.5663 | GOLD: Closes mid-range of an inside trading session as the market struggles to trade above the 50 day average. A close above $1389.9 will breed confidence in the bull camp with $1430.9 as the next upside objective. However, a breach of $1360.8 will confirm the head and shoulders ...

Climate Change!

By Mike Conlon | January 6, 2011

No, I’m not talking about the Al Gore hocus-pocus with regard to global warming, err make that cooling, no it’s warming—but rather the changes taking place in Washington DC. Just yesterday a new Congress was sworn in after last year’s elections with the intentions of promoting a more friendly business environment which will hopefully put more people back to work and improve economic conditions.



This week the employment reports are hopefully going to show an increase in positive sentiment as the market is anticipating policies intended to help business, not attack it. Yesterday’s ADP employment change figures were a step ...

Good day forex trading koalas!

In the previous review, Masoud mentioned that a double top formation developed on the H1 EUR/USD chart and a drop to 1.3080+ may happen if the formation turned out to be true.

Read the rest of the [URL="http://www.thegeekknows.com/2011/01/eurusd-daily-review-6-jan-2011.html"]EUR/USD Review[/URL] here.