Tuesday, January 5, 2010

eur/usd

unable to break into a bull mode. support down at 1.4280. I would say there's at least 70% chance that it test that level. Investors still on the shaky side to kickoff the new year and there should continue to be alot of questions in the 1st quarter after the worst recessionary period since the great depression. Question is have we seen the worst and that's what some investors are wondering - if there's going to be a second round our is the recovery underway. Without confirming data long term investors will stay on the cautious side, particularly with the data coming out of the US. Pending home sales index plunges 16%
Not a good way to start the economic calendar for the year.

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