Equity market was higher this week with S&P 500 up around 3.55%, and finished the week above resistance line connected from May 11th, 2010. At the same time the prices moved and closed above the 50 day SMA, for the first time since early May when S&P was falling from its highs. Technically the stocks market is now headed higher, towards the 1140 region, as we also pointed out in one of our past newsletters. In fact, markets now have a reason to move higher as the European Street tests results were positive, and only 7 of 91 banks failed the test, less than analysts expected. But the next question is how high can the market go and how investors see the European Stress tests results. Was the stress test too easy, and markets may react negatively?! Well, I am not fundamental analyst, so all I can say that time will tell if banks have enough of capital or not. Anyway, let’s see what the Elliott Waves are telling us.
Current Yesterday USD 0.25875 0.26063 GBP 0.54375 0.54125 EUR 0.43250 0.27250 JPY 0.13125 0.12875 CHF 0.08500 0.09000 AUD 3.03000 3.07750 CAD 0.18333 0.18333 NZD 2.42500 2.28500
Current Yesterday USD 0.26688 0.26813 GBP 0.54750 0.55000 EUR 0.26625 0.27250 JPY 0.12375 0.12625 CHF 0.08667 0.09500 AUD 3.09250 3.10000 CAD 0.19000 0.19500 NZD 2.28750 2.31500
Euro session price action tomorrow might not be directed so much by fundamentals as they are by momentum and technical levels. Tomorrow presents only one piece of key data, the Sentix Investor Survey. Forecasts see the figure rising for a fourth straight month, but a recent increase in the Unemployment Rate may actually change the minds of those surveyed
Current Yesterday USD 0.26688 0.26813 GBP 0.54750 0.55000 EUR 0.26625 0.27250 JPY 0.12375 0.12625 CHF 0.08667 0.09500 AUD 3.09250 3.10000 CAD 0.19000 0.19500 NZD 2.28750 2.31500
All of the economic data for the week has been released and the final session of trade is expected to be a boring one, with the US holiday weekend kicking off and the equity markets closed. The commodity bloc currencies have outperformed on the lightened session, while Sterling lags
Current Yesterday USD 0.26750 0.27750 GBP 0.55000 0.55250 EUR 0.27313 0.30875 JPY 0.12750 0.13000 CHF 0.09667 0.09833 AUD 3.10000 3.12500 CAD 0.21000 0.21000 NZD 2.36250 2.45000
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EUR-USD traded on a firmer footing after it continued to find support in front of the 1.4000 level during in the Asian session. Strong bids supported the…
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