There is only so much that 'Smart Money' can take from the market! Let's see who stands tall with the last one standing! Finally NASDQ 5000 Market and Price call we made last December have came through!
A busy schedule for the week is expected that should bring back some market volatility. The US Dollar got some good support with China’s move on lowering its rates in line with its previous move for banks to stimulate its economy. After Greece, investors are now focused on the continuing direction of the US Dollar.
This week’s market events would relatively be good for the USD which may include some mix reports on the jobs report more likely to happen and ECB President Mario Draghi’s tone on his next Cyprus press conference which would weigh more on the Euro’s price action. A slight price recovery after setting a new price low for the week @1.1158/60 levels have proven to be an initial daily support. Currently @1.1220 had limited market impact ahead of the probable catalyst coming from the expected comments by the middle of the week. As market participants would clearly take some clues from the USD direction more than ever.
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