Yesterday’s Price Action: Dow Jones – Upward Posture Could Morph Into Topping Risk Dow Jones Industrial Average started the day under pressure and remained so through the day. For the first half of the day’s session, till 12:15 PM New York Time, DJIA was declining. At 12:00 Noon, DJIA made a Wyckoff spring on 15…
The financial crisis in Europe is leading the global slowdown putting renewed pressure on the sovereigns around the world, many of them facing high debt-to-GDP ratio. Searching for a way to stimulate their economies many are running their mints at full capacity. But, every currency cannot depreciate against every other currency. This is throwing up…
Past few weeks have been quite brutal for the single currency of the eurozone against the greenback. By Memorial Day, EUR/USD had declined everyday in May except for two. Now it seems that the pair may be setting up for a bounce. Since mid-February, EUR/USD has been forming a descending triangle. The lower boundary line…
After making an all time low of 71.05 in April ’08, Dollar Index bounced back up to 89.25 by November ’08, retracing between 78.6% – to -89% of the drop from the previous high of 92.53 reached in November ’05, arguably, driven by the fear trade in the aftermath of ’08 financial crisis. For the…
The widely expected victory of Francois Hollande in the just concluded French presidential election is going to pose a fresh challenge to the German-dominated policy of economic austerity in the euro zone. Here is from AP: “Socialist Francois Hollande defeated conservative incumbent Nicolas Sarkozy on Sunday to become France’s next president, heralding a change in how Europe…
US dollar has been a good indicator of risk-off/risk-on trade for quite some time. Whenever investors become unsure of the economic conditions and when the fear level increases they flock towards US treasuries and US dollar. In the currency domain, Swiss Franc and Japanese Yen trump dollar’s safe haven status and they normally go up…
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