World Clocks

Friday, January 09, 2009

Week 1 New Year 2009


  • The 2008 Year End Euro weakness was tested early this week. Geopolitical and fundamental conditions have tested the USD against most majors. Considerable weakness against the Pound.
  • Though there was volitility, overall sentiment was a weak USD.
  • The question this week was whether we'd get clues as to where the Dollar would begin the brand new trading year.
  • This was Non-Farm Payroll week. The expectations were low, if not disastorous from last months job figures. Slightly better than expected numbers slowed down the Dollar weakness from the past 3 days.
  • It is significant to see how our AO kept us short, despite a rather huge move upwards with Euro even on the 4HR charts. Thus our bias will remain short until a significant failure against next key support levels in the low 1.3000 handle. ainly th downward acceleration from last month has slowed. If/when we approach k
  • A slow lazy trading week, profitable, consistant though and on track to start the year. Short levels in the low 1.300's handle, we have to keep a close eye on momentum. Further weakness in this momentum and we'll scale our Euro shorts and play it safe.Expectations before next ECB meeting should keep downward pressure on Euro.
Posted by Seaducer67 at 6:48 PM

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