GBP is taking down the EUR right along with it.
This has been the first real pullback in the #USDJPY. This is a possible wave 2 of 3in both short and longer term picture. As a good risk reward I am buying here with a tight stop.
Breaking down from a corrective move suggesting the the down trend will resume.
This is my theoretical pattern on a daily time frame we could potentially see in the next month or so play out. I believe this recent move was corrective in nature and we should see some kind of move up over in the next month or so. If you go back to my previous short trade in this pair, you will see I have made plenty of profits to at least put a little bit of...
$XLF At an Important area for the Banking sector, US and Global Economy. Both on a fundamental and technical basis. I don't want this post to be viewed as fear mongering or doom and gloom. On a fundamental point of view, loans dropping off can easily be explained by people waiting to see what happens next and thus postponed borrowing to a later date. On a...
Here is a comparison chart of the FTSE and GBP. As the Sterling devalued the FTSE started to price in inflation and pushed completely in the opposite direction. Which makes sense, since you require more currency to buy same amount of goods and services. As such the UK stock market will likely show higher nominal revenue and profits. Again NOMINAL not inflation...
Note how closely correlated the USD is to the Japanese stock market. As dollar strengthens the JPY weakens and the Nikkei moves higher to price in inflation. The reverse occurs when the dollar weakens, so does the Nikkei pricing in deflation. makes you wonder why the Bonk of Japan even bothers at this point since the FED has far more influence on what goes on in...
DAX will be making a corrective move. It doesn't have to work out this way just projecting expectations. Adjustment as necessary as more data comes in.
After the completion of a 1,2,3 drop move a bottoming tail is now in play. A move to the resistance area at the descending trend line is likely.
As dollar weakens, EUR strengthens making exports more expensive and DAX weakens.
Dollar index inverse gives you a good idea where emerging markets are headed. While this is more Macro economic rather than qucik day trading, it does appear that Emerging markets are front running dollar weakness. Should dollar establish a down trend, putting some money to work in EEM is not a bad investment.
Short again At the expanding Megaphone pattern