Wall Street rested yesterday after two days of sharp risings. The gap that was opened on Wednesday is pulling the indices down, and if the S&P 500 breaks down at 1180, it might slide all the way to the level in which the gap was opened- at 1165 points.
The G7 meetings are starting today at France, and will be on the focused during the weekend.
EUR/USD
The Euro is showing signs of a new bearish trend. It sharply broke the 200 SMA at the daily chart, and the risings in Wall Street, which usually support the Euro, did not help it this time. The following weekly chart gives an important perspective about the Euro and its possible direction. The support of 1.38 is a meeting point of the trend line and the horizontal support, which is a former resisting level. A strong break-down of this level will open the free way for sharp declines of the Euro. In addition, the weekly chart shows a "Lower-highs" pattern, which supports the estimation that the bears have the upper hand. It is hard to try predict what can happen if the Euro breaks-down, but it seems that the next stop would be around 1.34-1.35.
Postar um comentário
Muito obrigado por sua participação.