Euro Stoxx 50 – Last Chance For Pullback

After last week's rally in risk ended on a positive note in New York on Friday, it continues this morning with the Euro Stoxx 50 up 1.80% as of this writing.  Looking at the charts, the Euro Stoxx 50 is now slighly busting above previous support (2850), which this time around should hold as resistance […]

Early Monday Morning Market Looksy

Ain't no shame in this game…and risk assets are tumbling early this morning in Europe. The dollar is a beast and ramping higher. Looking at a chart of the Euro Stoxx 50, note the support area at the 200 day moving average (blue line) that got violated to the downside today.  Also note the next […]

Early Monday Morning: Troubled Waters In Euro-Land

We awake this morning with the euro down 0.50 % vs the greenback and some 'interesting' news, In Finland the 'anti'euro' party won a crucial stake in the parliament, which could mean the Portugal bail-out plans by the euro union will stall.   Moody's not to be out-done downgrades all Irish-Government garanteed banks to Baa1, […]

EUR/USD V SPX

The intraday correlation between the EUR/USD pair and the SPX remains to be uncanny.  More often than not the EUR/USD leads the way in either direction, allowing me to take a clue and trade in the said direction.

EUR/USD At Support Level

The dollar rallied further yesterday, bringing the EUR/USD back down to a multi-year trend line.  In early April the dollar pierced through a downward sloping trend line near 1.42 at the time and now is retesting these levels.  While this could provide some sort of support, our take is that the dollar's strength here, partially […]

EUR/USD At A Potentially Important Point

First blog post of the day here for me, so let me make it a quick one. See the chart below…the EUR/USD is at a three year downtrend line (resistance?).   I have no bias as to the next price move  here but that is not the point anyway…I am much more interested in looking […]

Euro/USD Is Approaching 1.40

Note the quick and steep rally the EUR has staged against the USD over the past three weeks.  1.385 could have served as resistance but the EUR kept rising and is now at 1.40, which should serve as some sort of resistance.  Next stop higher would be 1.428, which is the highs from last November. […]

Silver Crash And More…Friday Afternoon Rambles

It's been a seriously tiring week and I for one am ready (and have been for a few hours) to put my keepe in a resting mode for a solid 36 hours at least. The S&P 500 as well asl the rest of the major equity indices had a volatile time to say the least. […]

EUR/CHF Breakout. What Does It Mean?

Note the break out of a 10 month downward-sloping trend line in the EUR/CHF exchange rate.  Not only that, but the Euro (EUR) is also crossint the 200 day moving average against the Swiss Franc (CHF) for the first time since October 2009.  While this may reflect the strength the Euro has  been exhuberating against […]

Initial Signs Of A Longer Dollar Rally

I know I know, a 1% up-move in the dollar index and people are getting all dollar bullish again.  Our job here is to look for clues and remain impartial and vigilant as we meander through this jungle calle the market.  One of the clues I tend to look for are key reversal signals using […]