Monday, August 24, 2009

No news announcements bring a slow session

No news announcements from EU or US are behind relatively slow trading session today with USD only marginally stronger against the majors. The only news we got in the morning was CAD retail sales that came out better than expected (+1%). Against the CAD, the USD broke down and reached a low of 1.0730. Second long USDCHF position recommended yesterday working out quite nicely with average price now around 1.0615. Equities were doing quite well in the morning, now those gains have disappeared as they entered a negative territory. EURUSD is currently breaking below 1.43 which is not only a psychological level but also a trendline support. Close below 1.4270 would be majorly negative for the EUR.

Good trades.

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