Mar 2, 2015.
The EUR/USD pair fell hard, looks as if the EUR/USD pair will probably fall
from there, heading to the 1.11 handle next, and then the 1.10 level. The
1.15 level is massively resistive. If we break down below the 1.10 level,
this market could very well fall to the parity level next.
The USD/CHF pair broke higher clearing the 0.95 handle. If we get above
the 0.98 level, we should then head to the 1.02 handle again.
The AUD/USD pair ultimately hanging about the 0.78 level. It doesn’t look
like it’s ready to do much in the way of larger moves, if we break down
below the hammers from a couple of weeks ago, in fact start selling as it
should go much lower.
Gold markets bounced as the $1200 level below offered enough support.
The hammer of course looks very positive, so we can break above the top
of the hammer, the $1240 level above probably causes a bit of a
headache. The market ultimately goes to the $1500 level.
The Dow Jones 30 showing neutrality. The market is most certainly in an
uptrend, and ultimately this market will head as high as 20,000 given
enough time. Pullbacks continue to offer value as stock markets continue
to go higher.
The GBP/USD pair tried to break out but found quite a bit of resistance
above the 1.55 handle. This is the top as the potential consolidation area
in this general vicinity, and as a result, the market is getting ready to go
lower. If we break down lower, this market should then head to the 1.53
level next, and then possibly the 1.50 handle. There is a significant
amount of resistance all the way to the 1.58 handle, this market still
cannot be bought until we clear the 1.58 level.
This market will continue to bang around between the 1.55 handle and the
1.50 level and is one that will be difficult to hang onto for the longer term,
but if you are patient enough and can deal with the volatility, this market
could offer quite a bit in the way of profit.
If we do break above the 1.58 handle, the more likely pattern will then be
to the 1.60 level. The US dollar continues to be the favoured currency by
The USD/JPY pair slammed into the 120 level to find resistance. The
pullbacks continue to offer value as the market should go higher due to
the long-term uptrend. The 115 level is massively supportive, and
essentially the “floor” in this marketplace. Ultimately that the uptrend
continues going forward, heading to the 125 handle.
The USD/CAD pair forming a neutral candle. It should continue to go back
and forth in this general vicinity perhaps could break down and head to
the 1.20 as it is essentially the “floor” in this market. If we break above
the 1.27 level, we would be buyers there as well.
The light sweet crude market testing the $48 level and bounced to form a
bit of a hammer. It suggests that the market could bounce from here and
head back towards the $55 level, but this is still bearish overall and will
see a significant amount of resistance at the $55 level, but if we do get
above then head to the $60 level. Ultimately, it is easier to sell this
market than buy it, so this market should ultimately be one that you can
sell and sell again. However, it has sold off so drastically it is difficult to
anticipate long-term moves to the downside.
The US Dollar Index found enough support at the 94 level to turn things
back around and shoot much higher, and it appears to be ready to
continue going higher. This market is probably getting ready to go to the
100 level; pullbacks should continue to be buying opportunities in what is
by far the strongest currency in the world.
The S&P 500 initially broke out to the upside testing the 2120 handle.
However, ended up falling from there and forming a shooting star. The
shooting star of course suggests that the market will pull back from here
and look for buying opportunities.
The DAX looks like it should continue to go higher, but at this point time
the market is a little overbought. Some type of pullback in order to start
going long again, and feel a little bit apprehensive of going long at this
point, as pullbacks should offer value.
AIMHO Please DYOR
We - as a union- push the white flag in place,
And cry out “we are sorry for killing your race.”
And now we are all a huge family under the sky,
With God watching us with caring eyes.
We talk and pray because we are friends,
And forget the dreaded past because the enmity has now end.
We discuss-as a group- about important things,
But never let the spark of harm, in the mind, sting.
We hope world peace will reunite,
All other countries that battle and fight.
By: Nandini Mitra. (Copyright) 2010