Commodity Overview

Focus on Oil
The Crude Oil Market opened the year on a positive note, hitting 27-month highs. However, this bullish surge was short-lived as Oil markets saw an aggressive sell-off yesterday producing a $4 drop in WTI Futures. The move was largely in response to fierce Dollar Index strength.

Irish Creadibitly in Question and Good Numbers from the Us Dollar rallies

The EUR/USD came under fresh selling pressure today in early European trade after the Swiss National Bank confirmed that it will longer accept certain Irish government bonds as collateral for its repo operations. A spokesman for the SNB told Dow Jones that only securities “that fulfill stringent requirements with respect to credit rating are accepted by the National Bank .”

This is the first instance of a central bank rejecting the credit of an EU member and suggests that the sovereign debt crisis  in the EZ may have entered an new phase of volatility with credit market participants becoming even more discriminatory in their attitude.  The SNB move may also put fresh pressure on the EMU to  begin issuing a Eurobond for the region as the current arrangement of having a single currency, but multiple sovereign debt credits shows the inherent conflict of the present system.

By FX360

Wilkinson said he expects the euro to fall below $1.30 by the end of the month.

"While core European countries are showing solid growth, there is a lot of baggage attached to that growth and it has the potential to explode on sovereign debt woes," he said. "The rise in Treasury yields, meanwhile, should prove to be a tail wind for the dollar."

U.S. Treasuries' prices plunged. For details, see [ID:nN05285548]. Rising yields tend to support the dollar as they reflect stronger growth. They also enhance the attractiveness of some dollar-denominated assets to investors.

A separate report showing the U.S services sector expanded as well in December also lifted the dollar.

For a wrapup of U.S. data click on [ID:nN05276072].

"If, in fact, employment is kicking in, then that would set the tone for self-sustained growth, underpin interest rates and very much underpin the dollar," said Bob Sinche, global head of FX strategy at RBS Global Banking and Markets in Stamford, Connecticut.

Analysts said the private sector employment report bodes well for Friday's U.S. nonfarm payrolls number, which is expected to show gains of 175,000 overall jobs last month. [ID:nN05280692]

"We're definitely back to a 'buy dollar' mentality and the market is looking to take out key support levels for the euro," said Dean Popplewell, chief currency strategist at OANDA in Toronto.

One of those support levels is the 200-day moving average just below $1.31, which has staunchly supported the euro over the last two weeks and its breach could signal further selling. (Additional reporting by Gertrude Chavez-Dreyfuss; Editing by Kenneth Barry)

ST JAMES PLACE!! (STJ) INVESTMENT COMAPANY

ST JAMES PLACE!! (STJ) INVESTMENT  COMAPANY
 Stop 265 Entry 279 TAGRET 340

Vodafone GB

Uk stock FTSE 100 Vodafone
Sector Mobile Telecommunication
171.4

Updated EUR/USD daily

Looking for prices ti enter sell zone then we will look for a faliure, weakness break of 30min 1hrly trend lines
Also there is Gartley on the 4hrs 1.3453

Timeless Trading: EURUSD Weekly Daily and 4ours

Timeless Trading: EURUSD Weekly Daily and 4ours: "EUR/USD's recovery from 1.3054 lost momentum after hitting 1.3423 and formed a temporary top there. Intraday bias is turned neutral for t..."

EURUSD Weekly Daily and 4ours

EUR/USD's recovery from 1.3054 lost momentum after hitting 1.3423 and formed a temporary top there. Intraday bias is turned neutral for the moment. It looks as if whole sideway consolidation pattern from 1.2969 is extend further and we'll stay neutral as long as EUR/USD is still bounded in range of 1.3054/3423.
We have an ABC top at the 1.36/1.37 followed by a downward D on the weekly if the resistance is not taken out

On the upside, break of 1.3234 price are currecnlty holding 1.3364 which will indicate that rebound from 1.2969 is resuming for 1.3785 resistance. On the downside, below 1.3054 will suggest that whole decline from 1.4281 is resuming for another low below 1.2969. the 1.17/1.16 D 1.618 low trend line

 Elwave Count

A1/ 11 elwave high setting us up for a iii wave down Price are within the warning line so we have to stay alert for the rally then the drop i don't see 1.3350 being breached i will be looking  for sell signals on the 4hrs and

Daily around these prices becasue the stochastics is bullish need to waite for weakness and then a faliure.

RSI has failed long term and we are want falling momentum.

Also watching the news in the coming days to confirm bais

Good Luck!!!!