Tuesday, February 9, 2010

2/8/2010 - A look at the Euro

The Euro has been absolutely pounded because of the default fears over Greece and other European countries.  This "crash" is reminiscent of the 2008 financial crisis, and as long as the Euro falls against the dollar, US equities will continue to fall.  What's troubling is that the eur/usd chart has broken the 360 MA.  However, I do see a temporary bottom based on the reversal candlestick pattern, and we could see a sharp rally to re-test the 50 EMA soon.  This would give a chance to dump long positions. 

Posted by Vagabond at 12:08 AM

3 comments:

  1. AnonymousFebruary 19, 2010 at 5:27 PM

    Whats your opinion on the recent moves in S&P.

    Jim

    ReplyDelete
  2. VagabondFebruary 20, 2010 at 1:12 AM

    Added more analysis for the next week. I opened up some shorts on Thursday and was excited when the Fed announced the rate hike, but unfortunately it turned out to be a non-event. I will cover my positions if Monday is bullish by the close.

    ReplyDelete
  3. AnonymousFebruary 21, 2010 at 9:13 PM

    Thanks for the post.

    Jim

    ReplyDelete

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