All Blog Entries

by Darrell, Posted On: 03/04/2009

EUR/US$

The Euro pushed higher in European trading on Tuesday with a peak close to 1.2680 before drifting weaker. Following the Australian interest rate decision, there was increased speculation that the ECB would resist an aggressive policy easing at their meeting on Thursday and this helped underpin the Euro. There was also speculation that an option position close to the 1.25 area was being defended, but buying support quickly faded.

The US economic data remained weak with pending home sales falling by a sharper than expected 7.7% for January after a revised 4.8% increase the previous month. Although the data refers to January, it will ensure continuing fears ...

March 4, 2009 4:30 Pm Est

Casey Stubbs-- Winners Edge Trading

In the Asian session the Euro slid and the pair broke the support level of 1.2500 and went to 1.2456. The London and NY sessions were both strong for the Euro as the pair rebounded up to 1.2658.

The US Stock market had gains today as a rebound because of the severe losses in recent weeks. The Euro responded in line with the US Stock market.

The pair did not break any major resistance levels. There is a channel heading down on the daily chart that has not been broken. Watch the downward trend line and look to sell a bounce off of the trend wall.

...

Gold vs. US$
Another head shaker it seems. Just when we were warming to the idea of gold and the US$ moving arm in arm, the correlation breaks down or maybe pauses or maybe never was...

Click on the following link to view the latest issue of Black Swan Currency Currents in PDF format: