My newbie attempt to read market sentiments

They say that forex prices are derived from how the market situation is going. I am going to attempt to read the market for today.

After the ECB announcement of buying bonds the euro has surged strongly. It seems like many investors have strong confidence in the euro. The US dollar has dropped due to lack of information released. The 3rd quarter report might come out soon on the US economy.

The S&P 500 index seems to follow the eur/usd trend and when it rises the eurusd rises too.

For today the dow’s trend line seems to go opposite of the usd/jpy trend therefore it’s safe to say the market is moving according to the equities or shares being traded but rather by the dollar strength.

The EURusd is predicted to surge upwards in a bullish run but i did not make this conclusion by myself. I read a few signals given by someone on this forum and also by someone on forex factory and another forum whereby they all predicted the eurusd to rise and therefore this should be the popular market sentiment.

Other currencies like the GBP/USD are rising too since they have quite a positive correlation with the eur/usd.

How are my market reading skills?

U are still a newbie but i would say"not bad".

it could get better as long as you continue to learn. remember to avoid information overload and be sure to sift through a lot of trash out there. most are written to confuse you.