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The Wild Card Crude Oil 28 Aug 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Aug 28, 2009.

  1. forexqs.blogspot.com

    Aug 20, 2009
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    The Wild Card Crude Oil 28 Aug 2009

    Friday, 28 Aug 2009
    U.S. Consumer Spending Report at Forefront of Forex Trading Today

    Forex trading to today are set to be driven by a batch of data from both the U.S. and Britain. The main release from the U.S. today that traders are waiting for is the Consumer Spending, also known as the Personal Spending report from the U.S. at 12:30 GMT. Forecasts put the figure at roughly 0.2% in July, about half the increase of June. However, the rise is mainly owed to the cash-for-clunkers program. Despite this, a positive figure may actually hurt the USD, as such a result could increase risk appetite. Therefore, in order to take advantage of end-of-week market behavior, open your positions in the USD, EUR, and GBP now. ​

    The Wild Card

    Crude Oil

    Crude Oil has resurrected yet again as the top bullish commodity in Thursday's trading. The black gold currently stands at the $72.60 level. Today's technical data supports another possible upward move for Crude. This is mainly supported by the hourly chart's Stochastic Slow and 4-hour chart's MACD. So if you forex traders want to take advantage of this popular commodity now, then enter Crude as soon as possible as end-of-week trading kicks in

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