Some people will never learn anything because they understand everything too soon. ~ Alexander Pope
Good morning. It’s been a bad year for the euro and it ain’t over yet, as there are only two more days until 2012 and the euro has breached below $1.30 and reached 100.30 against the Japanese yen – the lowest level in 10 years. Today’s Initial Jobless Claims (FX Calendar) is the last important economic release of 2011 and tomorrow should be rather quiet due to lack of events and preparations for the New Year’s Eve. Let’s take a quick look at some of the last charts of 2011
Recent top near 81 is under pressure as last correction to mid 79 is over. Uptrend is intact & strong as EURUSD continues to slide, so best thing to do right now is to remain bullish on USD
USD Index Daily Chart 12-29-2011
Two days ago I was rather expecting the tight range to remain intact until January or perhaps see a correction towards 1.32-1.33 due to bears closing positions before year end, but it seems they don’t miss the selling opportunity of one last decline in 2011. Is the pair about to close below 1.300 tomorrow? – then selling in the 1.2980/00 region on weak rally is a plan to consider.
Euro Vs US Dollar Chart 4hrs 12-29-2011
- Continue reading: Dollar Continues Uptrend; EURJPY Testing 100
Winter holidays are just around the corner, creating the need to escape the daily routine, have some fun and spend more time with families and friends. Therefore, I’d like to take this opportunity to wish you all Happy Holidays!
I’ll be back next week. Cheers!
- Continue reading: Happy Holidays!
The greatest challenge to any thinker is stating the problem in a way that will allow a solution. ~ Bertrand Russell
Good morning. Dollar pulled back yesterday as risk pairs rallied following stocks, hence my plans to look for selling opportunities on more AUD weakness are on-hold. Holidays are approaching, so it’s probably best to take a break – not focusing much on charts & trades these days.
Support formed by recent resistance around 80 is being breached, and that’s a big warning sign for dollar bulls. Perhaps is not the best thing to buy dips yet, but rather wait a bit more to see how this unfolds
USD Index Chart Daily 12-21-2011
- Continue reading: Risk On Trade Sends Dollar Below Support, Aussie gets a Lift
In these matters the only certainty is that nothing is certain. ~ Pliny the Elder
Good morning. Not much happened since yesterday, hence the trading ranges remain narrow. The dollar index holds onto gains above support formed by recent top, while the euro continues to hover around $1.300 in sideways trade.
No change of sentiment – dips will likely continue to be bought
USD Index Chart Daily 12-20-2011
- Continue reading: Some Quiet Tuesday Charts