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Bobbys Corner-Open Market-Jan.20.2011

bob-slade-forex-trading-3-150x200Good Morning:

A busy overnight session-as equity and commodity markets fell as concerns that China’s continued growth may cause global interest rates to move higher.  Though investors are not looking at this as a
instant threat-the concerns are there.
Commodity currencies turned lower, on the heels of an overall decline in commodity prices   

Bobbys Corner-Open Market-Jan.19.2011

bob-slade-forex-trading-3-150x200Good Morning:

Risk appetite is again the flavor of the day.

EUR/USD topped the 1.35 handle-before profit takers took advantage of the price and drove the pair back down into the mid 1.34 levels.  The pair is back over 1.35 at this time.
Good results by both IBM and Apple helped lead the risk rally.  Selling by Asian central banks limited the rally.

This morning we have data on the US Housing market-speculation is that we will see disappointing data again in this sector-which also added to the USD downturn overnight.

Gold at 100 and 200 hour MA. Looking for a move away


The gold price has moved above the 100 and 200 hour MA (blue and green line) and is due for a move away from these key technical levels today. The price being above is bullish for the pair at the moment.

Bobbys Corner-Open Market-Jan.12.2011

Good Morning:

I am writing the Cbob-slade-forex-2-150x200orner from home today-as my area is the victim of another major snow storm -oh-well-that is what happens in the winter in the Northeast of the US.

GOLD holds support against 100 hour MA


Gold fell and tested the 100 hour MA today and found profit taking buyers.  A break below that level at the 1372.50 area is the key target to get through in order to solicit additional selling and may also be needed for the dollar bulls.

On a break of the moving average, the key target would be the trendline support at the 1363 area.  This trendline was broken on Friday but was not able to sustain downward momentum.  With the EURO bond auctions of concern still, the market in Gold might be inclined to wait and see.

Bobbys Corner-Open Market-Jan.6.2011

bob-slade-forex-2-150x200Good Morning:

The USD continued to trade stronger in the overnight sessions.  Concerns that the slow recovery in some EU countries will keep the debt crisis on the front burner for some time to come.  China stated that it will buy 6 billion euro of Spanish debt.  Investors will be looking to see if China’s purchases can calm speculators-or will Spain be the next recipient of an EU bailout?

 World equity markets traded higher-and US Futures are also pointing to a higher opening this morning.

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