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It was all about euro after Greek voted for Syriza. This is a bad result for eurozone, because Syriza party wants to drop euro and go back to drahma. Eur/usd started day with a huge gap and all economy portals were reporting about euro getting hammered. What is interesting, 1.11 support hold and we saw… Read More
After mess with Swiss we had another big announcement – this time from european central bank. They announced expanded asset purchase programme, which in practice will probably make euro even weaker. The goal here is to help european economy. You can read more about fundamentals after that decision on many blogs and portals. Lets have… Read More
After last week everyone is still talking about decline on swiss crosses. To be honest, I was also suprised about decicion of swiss central bank. Lets look at charts and see where frank is compared to other currencies.
Last week I had an interesting conversation with my friend who is starting out his trading journey. He is investing in commodities and he just went long on oil. He looked pretty proud of himself, like he outsmarted everyone else. “But why?” I asked. “It can’t go any lower”. He had no good arguments for… Read More
Ok, first lets look at eur/usd. After another good NFP numbers we saw a strong move down. There is some possible support on monthly chart:
An interesting example of trade from today. On lower time frames (5,15 min) situation wasn’t so clear. As I always write, it is good to check other, higher time frames and check exactly what current situation is. On 30-min chart of eur/usd we could see that the main trend is up but the high from… Read More
S&P500 bulls are trying to stop correction. In last two days they managed to go up over 80 points. Great, but when we check longer time frame we can see that week closed below important level at 1891 points. Still, they managed to hold above 55 moving average on weekly chart:
I wrote in my last post that this week is very important for SP500 and it is a test for bulls. They failed. First time since December 2012 SP500 closed below 21 and 33 moving averages on weekly chart:
It all was going well for bulls. For now. Week is not over yet, but for now sp500 is below 21 average. Since January 21 2013 expotential moving average was a stronghold. There were corrections which ended below that average but bulls always managed to end week above that 21 average. That is why this… Read More
