AUTOREFRESH 
I have the strange feeling I’ve been here before…
Familiar ranges for EUR/USD as it reacts to the news-flow on an intraday basis but maintains familiar ranges. Central banks have the market surrounded, trading the edges of the ranges, as Sean would say.
On the news front, a sharp slump in German exports is a worrying sign while news that Greek and Spain seem to be consolidating budgets as touted is supportive.
Keep an eye on the 10 and 21 day moving averages on the charts today; many black box funds use these averages to follow trends. A bullish cross (the 10-day rising above the 21 day) is possible, which could trigger fresh buying…
On the data front, we get wholesale inventory data, usually not a market mover. These days, it is important for its GDP impact as inventory adjustment has been the main driver of US growth of late…Rising inventories translates into rising GDP…
I agree… we just spent last week doing this same thing. It’s now getting very old. Maybe the Greek deal will be a little more positive than the German thing and help push the E/U up to the mid 36′s.
hello from me. I would disagree. there are strong indications that the strong euro era i about to over soon, when some strong papers are about to expire…
Jamie, can you please tell me are those Exponential or Simple Moving Averages? And at what timeframe?
Simple moving averages on the dailies…
[...] one eye on the daily charts where the 10 and 21 day moving averages are on the verge of crossing in bullish fashion (the shorter moving average moving above the longer average). Trend-following systems tend to act on [...]