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forex trading webinar on May 1, 2012

Click Here To Watch Video Live Webinar From Tuesday, May 1, 2012
Live Webinar From Tuesday, May 1, 2012
By: Melvin P.

Tuesday, May 1, 2012

Markets have been in a sleepy mood today due to the May Day Holiday in both Asia & Europe, which is the equivalent to our Labor Day Holiday in the United States. Volume & liquidity has been on the low side for the new month, resulting in little to no change in price for equities, currencies, commodities, and other asset classes. The Euro has managed to eke out marginal gains since the European Open, with the EUR/USD probing to a 4-week high, despite the troubling news from yesterday about the S&P credit rating downgrade of 16 Spanish Banks and the contraction of Spain's economy by 0.3% in the first quarter.

We started today's webinar discussing the unexpected rise in the ISM Manufacturing PMI number for the month of April to 54.8, which was above the forecasted 53.0 and higher than the previous month's number of 53.4. This better-than-expected data caused the EUR/USD pair to weaken on US dollar strength, since a rise in manufacturing would further confirm that the US Economic Recovery is still resilient and positive, despite prior indications that it had slowed down and lost momentum. 


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EUR/USD Technical Analysis May 8 2012

Click Here To Watch Video EUR/USD Daily Technical Analysis For Tuesday, May 8, 2012
EUR/USD Daily Technical Analysis For Tuesday, May 8, 2012
Video Running Time:00:08:21
By: Marvin P.

Tuesday, May 8, 2012

Risk aversion has been the major tone across multiple asset classes as investors continue to worry about political instability in the Eurozone and whether the 17-nation bloc will be able to solve some of their sovereign debt problems and meet their debt reduction targets by the year's end. For the past 2 trading days, investors have been searching for safety in other places, like 10-YR US Treasury Bonds or the 10-YR German Bund Market.  As a result, we have seen US dollar strength across multiple currency crosses.

In today's technical analysis review, we will briefly explain the price action in the EUR/USD pair and identify common areas of support & resistance for potential trade entries.


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