Shower of blessings to start the week!
A very disciplined market open during the NZ hours despite EUR positive news from G20 over the weekend.
A few noteworthy events to note which can effect the timing of market moves this week:
- Month end closing
- Fed Chairman Bernanke testifies
- Beige Book
Coincidentally, it will all happen on Wednesday.
For today, I continue to see a relatively shallow consolidation during the Asian timezone. No signs of weakening in the momentum despite overbought condition.
E$ should continue to nudge higher into the 1.35/36 band before any more elaborate correction.
Added to my long E$ last Friday and status quo on the long EURCAD positions. However, I will be looking to scale out this week.
1.3430 to hold, 1.3360/70 news induced.
What do you think? Looking forward to your comment (tho I may not answer everything you ask!)
Follow me on Twitter @tangjas and have a great week!
Not forgetting Wednesday's LTRO result!!
ReplyDeleteConflicting technical signals: Took profit on all positions. E$ @ 1.3408 EURCAD @ 1.3457
ReplyDeleteSquare for now. Await new buy signals.