1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

The Wild Card Crude Oil 2 Oct 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Oct 2, 2009.

  1. forexqs.blogspot.com

    Aug 20, 2009
    Likes Received:
    The Wild Card Crude Oil 2 Oct 2009
    Friday, 2 Oct 2009
    Major U.S. Data Publications to Set the Tone for Forex Trading Today

    As this week's trading comes to an end, the market awaits vital data from the U.S. economy. Both the U.S. Non-Farm Employment Change and the U.S. Unemployment Rate is set to drive the volatility of the forex market when they are released at 12.30 GMT. Also important for forex traders to follow is the Halifax HPI figures from Britain at 06:00 GMT. It is recommended that forex traders open big positions in USD and GBP crosses now, as today's trading unfolds.

    The Wild Card
    Crude Oil

    The black gold has gone increasingly bullish this week, and now stands at about $70.15. The MACD of the 4-hour chart and the MACD of the weekly chart show that the recent bullish trend may be running out of steam, and that a bearish correction may happen anytime soon. The RSI of the 4-hour chart also supports this view. Going short with tight stops may turn out to bring big returns for forex traders today. http://forexqs.blogspot.com/

Share This Page