The Euro Zone Current Account report headlines the economic calendar in the coming session, with all signs pointing to a sixth consecutive monthly decline in annualized trading terms.
After slipping to a low of 1.4299 on 10/27, the EURCHF snapped back to reach a high of 1.5885 on 12/15, but the lack of momentum to push higher favors a bearish outlook for the pair.
Here is the original post:
Identifying Trades with DailyFX 12.23.08 (Daily FX)
Oil prices extended their sharp fall to drop further below $40 a barrel on Tuesday, weakened anew by growing signs of deteriorating world oil demand.
Tue, 23th of December, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD attempted to push higher yesterday, topped at 1.4124 but further bullish momentum was rejected as the pair closed lower at 1.3940 , formed a Doji candlestick formation on daily chart.
It is the first trading day of what is typically the least liquid period in the financial markets.
The dollar slipped against the euro and the British pound but rose against the Japanese yen Monday after a German survey showed consumer confidence is stabilizing in the European Union’s largest economy.
World stock markets fell Monday in light pre-Christmas trade as another profit warning from Toyota weighed on investor sentiment, particularly in Germany and France.
Currency trading market conditions remain extremely difficult to time, and unexpected breakouts in the Euro and US Dollar have made several of our Momentum and Breakout-based trading strategies profitable through the past weeks of trading.
Well, for most of the day, it looked like Wall Street was finally ready to give us some guidance in terms of where it wants to go, but of course that would be too easy. The market started lower at the open and fell pretty steadily throughout the session, not counting a few periods of consolidation during the 10:00 hour and lunchtime. The selling picked up during the afternoon and it took the indices clearly below the trendlines I mentioned this weekend in the video
on Your First Move For Tuesday January 27th
