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Good day forex trading koalas.
Today is the start of the new trading week.
It is my hope that by Friday, all koalas are green in profit!
Last Friday, we finished the week on a mixed note. The EUR/USD was ranging and economic data was mixed too. Investors were hesitant and apprehensive about making commitments. However as many reports suggest, both the US and Euro Zone face their own respective challenges and the road to recovery is not a smooth one.
After ranging on Friday, we see a classic textbook breakout of the EUR/USD. It stops at the line of 1.2880 targeting a shameless opportunity for me to say " I LOVE IT WHEN MY CHART WORKS "
S&P 500 is now at 1118 indicating positivity.
Oil is now at $77+ and is approaching the $80 line.
Gold is around $1245.
***
What did the EUR/USD shoot up you ask?
Sentiments Sentiments Sentiments.
The European Commission mentioned today that Europe's economy may grow almost twice as much than previously forecast this year. Probably 1.7% versus the 0.9% estimated during the budget deficit crisis of the Euro Zone in May. Investors probably zoomed in onto this report and switched their risk appetite to full! Risk aversion was nowhere to be seen for now.
Having said so, the commission also made mention of a fragile recovery and challenges. These were probably ignored for now by the trigger happy investors.
I will also like to remind everyone that the relatively good growth the Euro Zone is enjoying may be due to the weaker Euro boosting exports. Not necessarily due to some superb fundamental strength.
The US Federal Budget Balance is due to be released soon and hence be careful of unexpected spikes. Tomorrow brings us more important economic data such as the German ZEW Economic Sentiment and US Retail Sales.
Trade Safely.
***
Someone was asking me. Aren't we koalas a forex community? Why do we talk about life or the importance of peace? LOL.
Well, see me as an old grumpy grandpa koala who loves to share about forex and little stories of being a good koala by the camp fire. :P
Cya and be a GOOD koala :)
***
Related Forex Articles from the [URL="http://www.thegeekknows.com/p/koalas-learn-forex-trading-training.html"]Koala Forex Training College[/URL].
[LIST][*][URL="http://www.thegeekknows.com/2009/11/weaker-currency-may-help-country-at.html"]A weaker currency may help a country at times[/URL][/LIST]
[B]Read more Forex Articles and Views by The Koala at [/B][B]
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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