FXstreet.com

The Mid-Day Minute

6

0

Euro Upmove May Lift Silver

Mon, Jun 29 2009, 05:35 GMT
by Mike Paulenoff

MPTrader.com


The euro is bid up this morning versus the dollar in reaction to renewed calls by China’s Central Bank for the creation of a “super-sovereign reserve currency.” This international “movement” by key leaders or institutions in China, Russia and the Mid-East to supplant the U.S. Dollar does not appear to be going away, and in fact might be picking up momentum. In any case, if the euro can hurdle near-term resistance at 1.4140/80, let’s expect Silver – and the iShares Silver Trust (NYSE: SLV) – as well as gold to react positively. The attached daily chart shows the close correlation between the euro/$ and silver since March 2008.

Mid Day


Archive

AdviceTrade, Inc.  | 3007 Washington Blvd., Suite 220-C, Marina del Rey, CA 90292
http://www.mptrader.com/ | info@advicetrade.com

Legal disclaimer and risk disclosure

In using any portion of MPTrader, you agree to the Terms and Conditions governing the use of the service as described in this disclaimer. Our disclaimers, policies and terms are subject to change without notice. MPTrader (www.mptrader.com) is published by AdviceTrade, Inc. and MJP Market Strategies, Inc., both of whom are publishers. The Web site is maintained by Codexia, LLC and has a marketing affiliation with The Technical Trader. None of these firms or individuals is registered as a broker-dealer or investment adviser either with the U.S. Securities and Exchange Commission or with any state securities authority. Mr. Paulenoff's commentaries and index analysis represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Paulenoff's opinions as constituting investment advice. Trades mentioned on the site are hypothetical, not actual, positions and Mr. Paulenoff and employees of AdviceTrade do not have personal positions in instruments mentioned on the site. Hypothetical performance results do not include trading commissions and other execution costs that would be incurred if the trades referenced in the diary or elsewhere on the site were actual trades. Past performance is no guarantee of future results. MJP Market Strategies, AdviceTrade, and Codexia cannot and do not assess, verify or guarantee the suitability or profitability of any particular investment. The risk of loss in trading index futures can be substantial. You should therefore carefully consider whether such trading is suitablef or you in light of your financial condition. You bear responsibility for your own investment research and decisions and should seek the advice of a qualified securities professional before making any investment. As an express condition of using this service and anytime after ending the service, you agree not to hold any employees of MJP Market Strategies, AdviceTrade, or Codexia or the companies themselves liable for trading losses, lost profits or other damages resulting from your use of information in MPTrader in any form (Web-based, email-based, or downloadable software), and you agree to indemnify and hold MJP Market Strategies, AdviceTrade, and Codexia and their employees harmless from and against any and all claims, losses, liabilities, costs, and expenses (including but not limited to attorneys' fees) arising from your violation of this agreement. This paragraph is not intended to limit rights available to you or to us that may be available under the federal securities laws.

Related reports

Daily Forex and Dow Jones Recommended Levels by FXtechtrade
Tue, Nov 24 2009, 06:09 GMT

Index Recommended Levels by FXtechtrade
Tue, Nov 24 2009, 06:07 GMT

Technical Market Commentary - Technical Market Commentary by India Forex Advisors
Tue, Nov 24 2009, 05:58 GMT

Daily Options Intelligence Report - Virgin Media bulls bank profits and build new positions by Interactive Brokers LLC
Tue, Nov 24 2009, 05:53 GMT

Daily FX Forecast by S.A.F.E. Ltd
Tue, Nov 24 2009, 05:51 GMT

eurusd, indices, silver, metals, stocks

View All

Related content

Heavy turnover continues in the EUR/USD
Forex Live | Tue, Nov 24 2009, 05:54 GMT

Swiss names selling EUR/USD
Forex Live | Tue, Nov 24 2009, 05:40 GMT

Asian forex market wrap: don’t be happy, worry!
Forex Live | Tue, Nov 24 2009, 04:56 GMT

German Ifo data to provide for volatility in early European trade
Forex Live | Tue, Nov 24 2009, 04:32 GMT

UPDATE:Asian Shares Mixed; Resource Cos Provide Some Support
Dow Jones | Tue, Nov 24 2009, 04:01 GMT

eurusd, indices, silver, metals, stocks

View All

Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
FX Solutions LLC
Contact the broker/FDM
Open a demo account
GFT
Contact the broker/FDM
Open a demo account
Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
Capital Market Services, L.L.C.
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.