Market Commentary
The EUR rally is starting to fade as the reality of the Greek problem bares to the front. The simple fact that EU finance ministers cannot come to a fast and conclusive agreement has not inspired traders to take any further note of a potential development of EUR Strength. The wane back to the 1.00 parity is now the dealer talk as this drama of uncertainty continues with a non-inspirational indecisiveness the key word. The USD took a slight hit when information was released on record US stockpiles of crude oil. That quickly turned the crude market into negative territory once again. after all, there is only so much oil we can produce and store and China has now resorted to storing crude in large offshore vessels as the shore tanks are brimming with crude. Neither did Gold find any strength as a safe haven in a lack luster day of trading.
US DX
94.885 +0.148 +0.19%
Support 94.543 Resistance 95.503
Euro
1.13397 +0.00137 +0.12%
Support 1.12450 Resistance 1.1355
Crude Oil
49.24 +0.40 +0.78%
Support 46.29 Resistance 52.41
Gold
1219.025 -18.795 -1.52%
Support 1,202.7 Resistance 1,247.1
Pieter Bergli - DeLoren Trust Holdings
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