Blocking the Noise, Focusing on Consolidation

The combination of mixed US earning and the conflicting signals and rumours from the Eurozone will add to choppiness, sharp market moves and non-directional trading. If you were to follow this market strictly on fundamentals, then you'd have likely had your share of confusion & loss of capital. The European morning started with: i) falling euro (talk of French downgrade & dampening down of hopes by Franco/German officials about Sunday's deal); then by; ii) rebounding euro (story of expanded EFSF to 2 trillion); and later by iii) Spain downgrade by Moodys & Apples disappointing earnings (hurting risk appetite). But technically, EURUSD continued to trade inside a familiar range. ADDITIONAL PREMIUM Intermarket Insights have been issued, including 3 trading ideas on EURUSD Subscribers click here for DIRECT access http://ashraflaidi.com/products/sub01/access/?a=524 Non-subscribers can take a 1 week trial here http://ashraflaidi.com/products/sub01/

Ashraf Laidi