ZN broke down from its rising red channel back on the 6th. Since then, it has found support in a falling channel – from which it is now threatening to break down.This is a moment of truth for bonds and the many correlated assets such as GC, shown above. Stocks might not be amused. continued … continue reading →
Tag Archives: euro zone
Today’s post could be an extension of yesterdays, with more beneficiaries of the shutdown such as Target and Lowes reporting big beats. Winners and losers. Curiously, ES failed to make a new high yesterday even thoughy SPX briefly rose above its February highs. You’ve always had to worry about predatory traders and specialists trying to … continue reading →
As noted back on Feb 21, the EURUSD has broken down from its rising channel (white) and accelerated to the downside, breaking the Jan 4 1.2996 low and the psychologically important 1.30 level. The intersection of the purple .618 and two white channels at 1.38 will have to wait (till my next visit across the … continue reading →
From Bloomberg, reprinted in its entirety: Saxo Bank CEO Says Euro Is Doomed as Currency Woes Resurface By Mahmoud Kassem – Feb 18, 2013 Lars Seier Christensen, co-chief executive officer of Danish bank Saxo Bank A/S, said the euro’s recent rally is illusory and the shared currency is set to fail because the continent … continue reading →
It was thoughtful of eurostat to include the US in their chart. Funny, that’s not the chart one would picture based on the MSM’s steady drumbeat of “recovery!” Germany, which had previously taken an ambivalent attitude about the soaring euro, might change its tune following its worst GDP print since Q408. The main culprit? Exports, … continue reading →
Alice laughed: “There’s no use trying,” she said; “one can’t believe impossible things.” “I daresay you haven’t had much practice,” said the Queen. “When I was younger, I always did it for half an hour a day. Why, sometimes I’ve believed as many as six impossible things before breakfast.” ― Lewis Carroll, Alice’s Adventures … continue reading →
The US dollar remains in a rising channel within long-term channels that point to very different outcomes. The rising white channel intersects just ahead with the larger falling white channel upper bound, the rising red channel mid-line and the 75% bound of the falling purple channel. Whether the red or purple channel carries the day … continue reading →
If you found yourself scratching your head today, you’re not alone. SPX finally shed a couple of points — the first loss in seven forgettable sessions. VIX reacted by selling off by 1.04. Huh? DX followed suit, settling 0.18 after being down as much as .66 from Friday’s high. Come again? I wrote about VIX … continue reading →
The euro is again hanging by a thread. Recall it already broke down from and is back-testing a big channel (solid red, below) that dates back to 1997. Its weekly RSI, however, looks like it could have some life left in it. First, I should make clear that I think the euro zone is toast. … continue reading →
While many others are dissecting the tussle in Brussels for hints as to the union’s future, I thought it would be a good time to revisit the euro’s chart. Our last forecast [June 10: Currents, See?] forecast a run up to 1.28ish by June 15, followed by a dip to 1.25 and return to 1.2875 … continue reading →