Simultaneous Release at
TheGeekKnows.com – Learn Forex Trading and view EUR/USD Reviews.
Good day forex trading koalas.
Yesterday saw the waters of risk aversion receding as the bond sales of Portugal and Poland enjoyed a warm reception. Investors saw that as a sign of optimism. I warned that the momentum looked suspiciously like an action of emotions and it might not be sustained. Extreme caution was advised. After all the Euro Zone remains troubled, especially with the recent poor economic data.
Looking at the EUR/USD chart above, we can see a consolidation pattern around the 1.272 region. I circled that region a couple of times in the previous reviews and I LOVE IT WHEN MY CHART WORKS 
S&P 500 is currently above 1100, indicating normal sentiments.
Oil is currently around $75 and gold has fallen in value too at around $1240+.
This suggest that the risk aversion may indeed be fading.
***
The US is the star of the day. Clocking in better than expected figures for the US Trade Balance and US Unemployment Claims, investors probably sees this as a shimmer of hope.
Having said so, we have seen so often that economic data can be so fickle and hence always plan for your trades and have an exit plan if things don’t work out well.
Recently, i am starting to notice more and more reports on Greece again. A report commented that Greece may need to extend their bailout package by an extra 3 to 6 years to avoid a default. This is a potential sentiment hit towards the Euro Zone. I mentioned previously that the media seems to like focusing on a theme always and if such reports continues to surface, we may be seeing a shift to Euro Zone bashing soon.
More economic data tomorrow including the French Industrial Production.
Trade Safely
***
I want to comment that all good proper religions should be respected. This is a human freedom. I hope the recent crisis with regards to the plan of burning copies of the Koran by a small church in the US will turn out fine. Peace is fragile. Treasure it.
Related Forex Articles from the Koala Forex Training College.
Read more Forex Articles and Views by The Koala at
TheGeekKnows.com – Learn Forex Trading and view EUR/USD Reviews.