Monday, June 7, 2010

Economic Data Impact on EUR-USD market movement record

Now i would like to record the market movement based on fundamental economic data release. This my first time being serious in fundamental study of the market.

Sunday Jun 6 2010

Asian Zone Market:
7.30 AM AUD AIG Construction Index Previous 55.8 Current 53.2
9.30 AM AUD ANZ Job Advertisements m/m 4.5% Current 1.2%

Impact: EUR-USD continue to move down until 1.1877 (Oversold)

Euro Zone Market:
4.30 PM EUR Sentix Investor Confidence Previous -6.5 Actual -4.1
6.00 PM EUR German Factory Orders m/m Previous 5.0% Actual 2.8%

Impact: Market going up for correction current position currently at 23.6% Fibonacci retracement in 15 minutes time frame. Expected correction up to 38.2%

There are no US Zone economic data for the day. So the market should take this opportunity to make correction for today.

No-news period: Market fluctuating between 23.6% to 100% Fibonacci retracement  within 5 minutes time frame. The market still in oversold zone for major time frame

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