eToro – Forex Trading Forum

[BlueinGreen]

Hello traders,
Yesterday was once again a very bad day for the dollar. In fact, for the last to days The EURUSD had a clear run up of around 125 pips, The GBPUSD around 250 pips, while the USDJPY is down 125 pips.
It is hard to spot when some dollar buyers will enter the market again. EURUSD is left with two key resistance levels: first around 1.5840 and the second (it’s all time high) at 1.6018.

One of the reasons for the current move is also rocketing oil prices. Yesterday oil prices topped well above $130 to around $135. You should know that the oil price has a negative correlation to the dollar. Oil prices can get pretty volatile as you can see in this historical chart – remember that right now we stand at around $134 per barrel of oil.




Annual Average Domestic Crude Oil Prices
1949-Present
U.S. Average
(in $/bbl.)
Year Nominal Inflation Adjusted 2007
1946 $1.63 $17.26
1947 $2.16 $20.29
1948 $2.77 $24.21
1949 $2.77 $24.44
1950 $2.77 $24.18
1951 $2.77 $22.42
1952 $2.77 $21.91
1953 $2.92 $22.88
1954 $2.99 $23.39
1955 $2.93 $22.94
1956 $2.94 $22.74
1957 $3.14 $23.46
1958 $3.00 $21.83
1959 $3.00 $21.62
1960 $2.91 $20.69
1961 $2.85 $20.03
1962 $2.85 $19.79
1963 $2.91 $19.97
1964 $3.00 $20.32
1965 $3.01 $20.05
1966 $3.10 $20.06
1967 $3.12 $19.65
1968 $3.18 $19.17
1969 $3.32 $19.02
1970 $3.39 $18.35
1971 $3.60 $18.68
1972 $3.60 $20.03
1973 $4.75 $22.29
1974 $9.35 $39.77
1975 $12.21 $47.63
1976 $13.10 $48.36
1977 $14.40 $49.88
1978 $14.95 $48.17
1979 $25.10 $71.96
1980 $37.42 $95.50
1981 $35.75 $82.70
1982 $31.83 $69.33
1983 $29.08 $61.34
1984 $28.75 $58.14
1985 $26.92 $52.56
1986 $14.44 $27.66
1987 $17.75 $32.81
1988 $14.87 $26.45
1989 $18.33 $31.05
1990 $23.19 $37.17
1991 $20.20 $31.15
1992 $19.25 $28.81
1993 $16.75 $24.36
1994 $15.66 $22.19
1995 $16.75 $23.09
1996 $20.46 $27.38
1997 $18.64 $24.40
1998 $11.91 $15.35
1999 $16.56 $20.83
2000 $27.39 $33.39
2001 $23.00 $27.29
2002 $22.81 $26.61
2003 $27.69 $31.62
2004 $37.66 $41.84
2005 $50.04 $53.77
2006 $58.30 $60.73
2007 $64.20 $64.92


Today we have two events on the lookout

9:30am
G.B - Retail Sales m/m

1:30pm
U.S - Unemployment Claim (Forecast: 373k Previous: 371k)

The Unemployment claims figures can give us another hint about the health of the U.S economy. However, many traders wait for tomorrow’s Existing Home Sales report – as do I. So for me, tomorrow will be more tradable than today.
Good luck

[roberthosimson]

Thanx you blue in green!

[mrsly6]

y once again ur insight is invaluable to market sentiment house prices expected to fall with cali worst hit second month running.Will the fed cut bp rates.is the key question after reprts yes an today to stry stop economy US faltering .