Folks start your weekend early and try to take some of this weeks edge off. Dont worry you will find everything there on Monday (vix suggestive), but what's important GO ENJOY THE WEEKEND!!!!!!!!!!
In exceptionally volatile trading, EUR/USD is back to 1.2700 level after a momentary spike to 1.2758, possibly driven by market talk than the ECB is preparing a loan facility to help euro-zone banks. ECB declined to comment. Currencies have swung in broad ranges the entire global session, with brief spikes on a combination of events, data, headline news and trading-floor chatter. Recovery in US equities has also supported euro. EUR/USD now at 1.2694 from 1.2599 late Thu, according to EBS via CQG. USD/JPY at 91.71 from 89.92. GBP/USD at 1.4700 from 1.4832. ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, at 84.738 from 84.910. DJIA down 53.
NEW YORK (Dow Jones)--The Dollar Index has risen fast this week and its upward trajectory has been nearly vertical. In fact, although it's not evident that the uptrend is exhausted, an interim top is about to form, I believe. See chart at http://www.dowjoneswebservices.com/chart/view/3934
It's notable that Friday's trading so far is confined in Thursday's 83.924-85.268 range. That's an obvious signal of fading upside momentum, and the virtue of heeding such homely details is the fact that you don't need a whiz-bang mathematically overcomplicated technical oscillator to tell you the obvious: The bull is about to take a break.
That conclusion is reinforced by the fact that an interim top may be lurking in the 85.584-85.659 resistance band. And I remember the first technical lesson that stuck in my brain, lo, these many years ago: Slowing momentum and looming resistance is a recipe for a selloff.
The final point of the chart is the fact that the Dollar Index would have to make a precipitous drop in order to kill the bull outright. Uptrend channel support, as I've alluded to this week, is a good way below the current market. Friday's support is 81.685, and that wide a drop would be a profit breaker even if it didn't hurt the uptrend.
For now stop trades at 82.820, or at 81.163.
Look For Relative Euro Rally
The prospect of a Dollar Index correction, of course, suggests a corresponding correction of the euro's ongoing downtrend against the dollar. The euro's downtrend low, recorded Thursday, is $1.2521. A minimum correction would, I believe take the euro back to the $1.2710-$1.2742 resistance band. That move would probably only delay an eventual test of target support at $1.2342.
(Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires. He can be reached at 212-416-2212 or by email at stephen.cox@dowjones.com.)
(Data by CQG)
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary:http://www.djnewsplus.com/access/al?rnd=yGvYv1GyBZK8vLdoTQKsDg%3D%3D. You can use this link on the day this article is published and the following day.
NEW YORK (Dow Jones)--The Dollar Index has risen fast this week and its upward trajectory has been nearly vertical. In fact, although it's not evident that the uptrend is exhausted, an interim top is about to form, I believe. See chart at http://www.dowjoneswebservices.com/chart/view/3934
It's notable that Friday's trading so far is confined in Thursday's 83.924-85.268 range. That's an obvious signal of fading upside momentum, and the virtue of heeding such homely details is the fact that you don't need a whiz-bang mathematically overcomplicated technical oscillator to tell you the obvious: The bull is about to take a break.
That conclusion is reinforced by the fact that an interim top may be lurking in the 85.584-85.659 resistance band. And I remember the first technical lesson that stuck in my brain, lo, these many years ago: Slowing momentum and looming resistance is a recipe for a selloff.
The final point of the chart is the fact that the Dollar Index would have to make a precipitous drop in order to kill the bull outright. Uptrend channel support, as I've alluded to this week, is a good way below the current market. Friday's support is 81.685, and that wide a drop would be a profit breaker even if it didn't hurt the uptrend.
For now stop trades at 82.820, or at 81.163.
Look For Relative Euro Rally
The prospect of a Dollar Index correction, of course, suggests a corresponding correction of the euro's ongoing downtrend against the dollar. The euro's downtrend low, recorded Thursday, is $1.2521. A minimum correction would, I believe take the euro back to the $1.2710-$1.2742 resistance band. That move would probably only delay an eventual test of target support at $1.2342.
(Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires. He can be reached at 212-416-2212 or by email at stephen.cox@dowjones.com.)
(Data by CQG)
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary:http://www.djnewsplus.com/access/al?rnd=yGvYv1GyBZK8vLdoTQKsDg%3D%3D. You can use this link on the day this article is published and the following day.
NEW YORK (Dow Jones)--The Dollar Index has risen fast this week and its upward trajectory has been nearly vertical. In fact, although it's not evident that the uptrend is exhausted, an interim top is about to form, I believe. See chart at http://www.dowjoneswebservices.com/chart/view/3934
It's notable that Friday's trading so far is confined in Thursday's 83.924-85.268 range. That's an obvious signal of fading upside momentum, and the virtue of heeding such homely details is the fact that you don't need a whiz-bang mathematically overcomplicated technical oscillator to tell you the obvious: The bull is about to take a break.
That conclusion is reinforced by the fact that an interim top may be lurking in the 85.584-85.659 resistance band. And I remember the first technical lesson that stuck in my brain, lo, these many years ago: Slowing momentum and looming resistance is a recipe for a selloff.
The final point of the chart is the fact that the Dollar Index would have to make a precipitous drop in order to kill the bull outright. Uptrend channel support, as I've alluded to this week, is a good way below the current market. Friday's support is 81.685, and that wide a drop would be a profit breaker even if it didn't hurt the uptrend.
For now stop trades at 82.820, or at 81.163.
Look For Relative Euro Rally
The prospect of a Dollar Index correction, of course, suggests a corresponding correction of the euro's ongoing downtrend against the dollar. The euro's downtrend low, recorded Thursday, is $1.2521. A minimum correction would, I believe take the euro back to the $1.2710-$1.2742 resistance band. That move would probably only delay an eventual test of target support at $1.2342.
(Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires. He can be reached at 212-416-2212 or by email at stephen.cox@dowjones.com.)
(Data by CQG)
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary:http://www.djnewsplus.com/access/al?rnd=yGvYv1GyBZK8vLdoTQKsDg%3D%3D. You can use this link on the day this article is published and the following day.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(10 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(10 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(10 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 (10 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (10 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (10 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(10 months ago)
تجنب الخطأ الشائع المتمثل في خلط مؤشرات الناسداك وداوجونز و الاس ان بي وإليكم كيفية تفاعله بشكل مختلف مع تذبذبات في عوائد السندات ليست كل مؤشرات الأسهم متشابهة. شاهد الفيديو
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields -Details in video description.
Latest Hot-Chart - Apr 09
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
View Hot-Chart..
;) Love n Peace
adis amigos
A DOW JONES NEWSWIRES COLUMN
NEW YORK (Dow Jones)--The Dollar Index has risen fast this week and its upward trajectory has been nearly vertical. In fact, although it's not evident that the uptrend is exhausted, an interim top is about to form, I believe. See chart at
http://www.dowjoneswebservices.com/chart/view/3934
It's notable that Friday's trading so far is confined in Thursday's 83.924-85.268 range. That's an obvious signal of fading upside momentum, and the virtue of heeding such homely details is the fact that you don't need a whiz-bang mathematically overcomplicated technical oscillator to tell you the obvious: The bull is about to take a break.
That conclusion is reinforced by the fact that an interim top may be lurking in the 85.584-85.659 resistance band. And I remember the first technical lesson that stuck in my brain, lo, these many years ago: Slowing momentum and looming resistance is a recipe for a selloff.
The final point of the chart is the fact that the Dollar Index would have to make a precipitous drop in order to kill the bull outright. Uptrend channel support, as I've alluded to this week, is a good way below the current market. Friday's support is 81.685, and that wide a drop would be a profit breaker even if it didn't hurt the uptrend.
For now stop trades at 82.820, or at 81.163.
Look For Relative Euro Rally
The prospect of a Dollar Index correction, of course, suggests a corresponding correction of the euro's ongoing downtrend against the dollar. The euro's downtrend low, recorded Thursday, is $1.2521. A minimum correction would, I believe take the euro back to the $1.2710-$1.2742 resistance band. That move would probably only delay an eventual test of target support at $1.2342.
(Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires. He can be reached at 212-416-2212 or by email at stephen.cox@dowjones.com.)
(Data by CQG)
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary:http://www.djnewsplus.com/access/al?rnd=yGvYv1GyBZK8vLdoTQKsDg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
May 07, 2010 11:32 ET (15:32 GMT)
A DOW JONES NEWSWIRES COLUMN
NEW YORK (Dow Jones)--The Dollar Index has risen fast this week and its upward trajectory has been nearly vertical. In fact, although it's not evident that the uptrend is exhausted, an interim top is about to form, I believe. See chart at
http://www.dowjoneswebservices.com/chart/view/3934
It's notable that Friday's trading so far is confined in Thursday's 83.924-85.268 range. That's an obvious signal of fading upside momentum, and the virtue of heeding such homely details is the fact that you don't need a whiz-bang mathematically overcomplicated technical oscillator to tell you the obvious: The bull is about to take a break.
That conclusion is reinforced by the fact that an interim top may be lurking in the 85.584-85.659 resistance band. And I remember the first technical lesson that stuck in my brain, lo, these many years ago: Slowing momentum and looming resistance is a recipe for a selloff.
The final point of the chart is the fact that the Dollar Index would have to make a precipitous drop in order to kill the bull outright. Uptrend channel support, as I've alluded to this week, is a good way below the current market. Friday's support is 81.685, and that wide a drop would be a profit breaker even if it didn't hurt the uptrend.
For now stop trades at 82.820, or at 81.163.
Look For Relative Euro Rally
The prospect of a Dollar Index correction, of course, suggests a corresponding correction of the euro's ongoing downtrend against the dollar. The euro's downtrend low, recorded Thursday, is $1.2521. A minimum correction would, I believe take the euro back to the $1.2710-$1.2742 resistance band. That move would probably only delay an eventual test of target support at $1.2342.
(Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires. He can be reached at 212-416-2212 or by email at stephen.cox@dowjones.com.)
(Data by CQG)
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary:http://www.djnewsplus.com/access/al?rnd=yGvYv1GyBZK8vLdoTQKsDg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
May 07, 2010 11:32 ET (15:32 GMT)
A DOW JONES NEWSWIRES COLUMN
NEW YORK (Dow Jones)--The Dollar Index has risen fast this week and its upward trajectory has been nearly vertical. In fact, although it's not evident that the uptrend is exhausted, an interim top is about to form, I believe. See chart at
http://www.dowjoneswebservices.com/chart/view/3934
It's notable that Friday's trading so far is confined in Thursday's 83.924-85.268 range. That's an obvious signal of fading upside momentum, and the virtue of heeding such homely details is the fact that you don't need a whiz-bang mathematically overcomplicated technical oscillator to tell you the obvious: The bull is about to take a break.
That conclusion is reinforced by the fact that an interim top may be lurking in the 85.584-85.659 resistance band. And I remember the first technical lesson that stuck in my brain, lo, these many years ago: Slowing momentum and looming resistance is a recipe for a selloff.
The final point of the chart is the fact that the Dollar Index would have to make a precipitous drop in order to kill the bull outright. Uptrend channel support, as I've alluded to this week, is a good way below the current market. Friday's support is 81.685, and that wide a drop would be a profit breaker even if it didn't hurt the uptrend.
For now stop trades at 82.820, or at 81.163.
Look For Relative Euro Rally
The prospect of a Dollar Index correction, of course, suggests a corresponding correction of the euro's ongoing downtrend against the dollar. The euro's downtrend low, recorded Thursday, is $1.2521. A minimum correction would, I believe take the euro back to the $1.2710-$1.2742 resistance band. That move would probably only delay an eventual test of target support at $1.2342.
(Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires. He can be reached at 212-416-2212 or by email at stephen.cox@dowjones.com.)
(Data by CQG)
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary:http://www.djnewsplus.com/access/al?rnd=yGvYv1GyBZK8vLdoTQKsDg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
May 07, 2010 11:32 ET (15:32 GMT)
9.9 numbers not sustainable
they will lose more jobs in the following months, im not buying this recovery one bit
Cue the jaws music. Cable little lower still, presently at 1.4610.
djellal i dint doubt you were spreading rumours just wanted to know if the statement is still rumour or someone has confirmed that.
http://www.zerohedge.com/article/panic-and-loathing-sp-500-pits