Data released pre-market today showed that Europe's Trade Balance declined quite a bit more than was forecast, as shown on the graph below...this continues to confirm the contraction that Europe's economy is undergoing...as depicted, 2011 is dramatically weaker than 2010.
At the moment, the EUR/USD is being squeezed between 1.31 and 1.30, as shown on the Daily and 4-hour charts below...it's currently in a bear flag formation...will see on which side the break ultimately occurs...so far, trading has been weak since today's market open.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Jan. 23 @ 3:30 am ET ~ German Manufacturing PMI (watch for a drop below 50)
* Wed. Jan. 30 @ 2:00 pm ET ~ FOMC Announcement
* Fri. Feb. 1 @ 8:30 am ET ~ Employment Data
* Wed. Feb. 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Feb. 20 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Mar. 6 @ 2:00 pm ET ~ Beige Book Report
* Wed. Mar. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...