Monday, November 29, 2010

Morning Madness

Time to kick off another week of madness...

We don't have any economic reports coming out today so it will be light on that front.  There will be POMO every day this week, so that might be something to factor in.  Futures are down slightly coming off big overnight highs.  At this rate the markets will open about flat. 

EUR/USD is down about 1% and bouncing off of its 200 day moving average
GBP/USD is also currently down
USD/JPY is still moving up

Bulls need to retake the 1200 price level to have a chance, and bears need to take the 1173 level to keep this is in a downtrend.

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