Weekly Technical Strategist
Sunday, November 30th, 2008
Weekly Technical Strategist
With the pair’s break out of a triangle and its rise off the 1.2423 level cut short after failing to push through its Nov 25′08 high at 1.3081,it has formed a shooting star candle pattern(top reversal signal) and increased the chances of further downside losses. We now see that decline…
Throwing Cash Like Monopoly Money
To paraphrase senator Dirksen a trillion here, a trillion there and pretty soon you are talking real money. This week’s expansion of the Fed’s balance sheet by another $800 Billion was good example of that well worn maxim. Certainly the currency markets did not look kindly on the news, as…
Currency Pair Daily Forecasts
EUR/USD-The MACD is heading for a bullish cross the but RSI is pointing down The prices completed a triple bottom at 1.24 and bounced upward failing so fare to break the 13030 resistance. The MACD is heading for a bullish cross the but RSI is pointing down We can see…
Weekly Focus: Rescue Packages vs. Economic Data
The past week saw a series of initiatives from the world’s central banks aimed at stabilising the situation in the financial markets. On Monday, a rescue package for banking giant Citigroup was passed, and on Tuesday the Fed declared its intention to buy up assets for USD 800bn with the…
The Weekly Bottom Line
Not to be outdone by previous weeks, this last week of November offered up another full serving of noteworthy data and dramatic events. Pinch yourself if it does not feel that way; you might understandably have become numb in an unconscious bid to protect yourself from the swarm of negative…
Foreign Exchange Market Commentary
EUR/USD closed lower on Friday due to profit taking as it consolidates some of last week’s rally. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above…