OK. So now what? I am looking at the 233 day EMA right below Friday's low, which is also a confluence of a major 382 fib for the year's bull rally. Look at me: I didn't believe the bull rally, and now I am criticizing the bear. I should be locked up.
Equities will pull back due to lacklustre earnings in the banking sector, leading summer bulls to take profit now. Meanwhile, we saw at the end of the trading week how that the strong euro is taxing the eurozone's export sector and the ECB is going to have to gently talk down the Euro in order to placate European manufacturing interests. I believe that the central banks agree with JCT's suggestion at this point that an ultra weak dollar is already destablizing the price of crude oil, and that dovish rhetoric will soon be all the rage in order to prevent a repeat of the summer of 2007.
Jamie Satelle over at fxcm seems to think that EUR/NZD is due to launch. He sees a bullish base forming from the 14 AUG 09 low. I do note that the September post NFP low (a 2.0731 wick) seems to have double bottomed with the August low, but did not close below Jamie's base line. Also, I found it noteworthy that notwithstanding the likelihood at Gold is going to $1250 and AUD to .9023, EUR/NZD did not break down against kiwi along with the USD post September NFP. My own view is that the New Zealand bank folks are going to do their dead level best to chill the kiwi bulls this week. And so, I am long @ 2.0885.
There is a .618 monthly fib fan line predicated on the December 2005 low and last winter's double top highs.
So, I have all weekend to sweat, but it's like this: I called the GBP/JPY double top after the August NFPs, and then chickened out in Asia on Sunday night. If I had just believed myself and closed my laptop for a month, I would have made 1400 % on my money.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(11 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(11 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (11 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (11 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (11 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(11 months ago)
إستعمال تحليل الإنترماركت والتحليل الفني الكلاسيكي لتداول الذهب و الناسداك و السندات. شاهد هنا
Using intermarket technicals analysis to trade XAUUSD Nasdaq100 and Bonds.Watch here.
Latest Hot-Chart - May 16
Dax 200 DMA Deviation
You remember we went short Dax40 in late March based on the 13% 200 DMA extension, which gave us at least a 500-pt gain.
View Hot-Chart..
Equities will pull back due to lacklustre earnings in the banking sector, leading summer bulls to take profit now. Meanwhile, we saw at the end of the trading week how that the strong euro is taxing the eurozone's export sector and the ECB is going to have to gently talk down the Euro in order to placate European manufacturing interests. I believe that the central banks agree with JCT's suggestion at this point that an ultra weak dollar is already destablizing the price of crude oil, and that dovish rhetoric will soon be all the rage in order to prevent a repeat of the summer of 2007.
Jamie Satelle over at fxcm seems to think that EUR/NZD is due to launch. He sees a bullish base forming from the 14 AUG 09 low. I do note that the September post NFP low (a 2.0731 wick) seems to have double bottomed with the August low, but did not close below Jamie's base line. Also, I found it noteworthy that notwithstanding the likelihood at Gold is going to $1250 and AUD to .9023, EUR/NZD did not break down against kiwi along with the USD post September NFP. My own view is that the New Zealand bank folks are going to do their dead level best to chill the kiwi bulls this week. And so, I am long @ 2.0885.
There is a .618 monthly fib fan line predicated on the December 2005 low and last winter's double top highs.
So, I have all weekend to sweat, but it's like this: I called the GBP/JPY double top after the August NFPs, and then chickened out in Asia on Sunday night. If I had just believed myself and closed my laptop for a month, I would have made 1400 % on my money.
Comment?