Oil Bullish or Bearish

[Oil Bullish or Bearish]

It will be strong if the dollar gets strong and nowadays the dollar is ruling over other currency especially on EUR, because of weakening economy announcements.

[FX - EuroTrash]

On 6/2/2011 at 3:08 AM, rforexdad said:

Today the ADP report for Jobs showed very low growth rate in USA

also manufacturing was reported to be low

 

does the USA jobs news have any co-relation with the GBP/USD and EUR/USD ?

 

any explanations ?

US New Home Sales:
Thursday, 14:00. While offers of new homes shape just a minor piece of the aggregate market, each arrangement makes a more extensive cluster of monetary action and is very much corresponded with the more extensive economy. The annualized level of offers remained at 631K in June. A comparative number is on the cards now: 651K.

US Durable Goods Orders:
Friday, 12:30. This essential financial marker gives data to the Fed about speculation and long-haul moves in the economy. Feature orders ascended by just 0.8% in June as indicated by the last read. Center requests ticked up by 0.2%. We will now get the underlying evaluation for July, the main month of Q3. The considers additionally feed along with GDP. Feature orders are relied upon to drop by 0.3% while center requests convey desires for +0.5%.

I hope that this will help you out.

 

[Gold Bullish or Bearish]

Reversal Trend Pattern occurred for XAUUSD
Gold is on edge in spite of heightening US-China exchange strains. The better and brighter US levies on $16 billion worth of Chinese products have produced results a couple of minutes back and could welcome retaliatory activity from Beijing.

A bearish Doji inversion would be affirmed if the metal closes beneath the earlier day’s Doji flame low of $1,192. The bearish inversion, if affirmed, would mean the remedial rally from the ongoing low of $1,160 has finished.