USD - all eyes on the monthly employment report on friday. USDX has made 5 session successive highs from lows of 94.75 to 95.1. EUR is now near an 11yr low as we await the ECB details of the QE bond buy back program with no fundamental reason to stop the EUR sliding slowly to the Dollar parity mark. On Bloomberg read http://www.bloomberg.com/news/articles/2015-03-05/euro-near-11-year-low-before-ecb-unveils-debt-purchase-details?cmpid=yhoo
Stock markets also going into stall mode as the markets look for important directions with thursday and friday EU and USA events. US crude inventories are at record levels as crude oil stalls at the 50 mark and given that production cutbacks could take 6 - 12 months to drift through the market it could be an entire year for price action to his upwards resistance as stockpile glut suppresses price fundamentals. 50-60 dollar is reality for 2015-2016.
Gold drifting to test the 1190 and should that break the longs will be in retreat for some time yet.
95.942 +0.029 +0.04%
Support 95.102 Resistance 96.512
EUR
1.108495 -0.009205 -0.82%
Support 1.11207 Resistance 1.12437
Crude Oil
51.66 +0.13 +0.26%
Support 48.65 Resistance 53.43
Gold
1201.14 -5.73 -0.47%
Support 1,191.6 Resistance 1,202.3 1
Pieter Bergli - DeLoren Trust Holdings
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