פתח חשבון חדש
פתח חשבון
פתח חשבון דמו
פתח חשבון דמו
צ’אט אונליין עם נציגסקירה יומית 01/03/2010
It was a very fragile week last week in the markets due to the deep Greek debt crisis in Europe. The pair tested the 1.3450 levels last week. Greece started a political campaign against Germany in order to get economic help. During World War 2, German Administration at the time confiscated the Greek banks. Now, the Greeks are looking for their compensation due to their losses incurred more than 65 years ago. Unfortunately, there are even worse circumstances to come, in resemblance to Greece, negative reports keep coming from Spain, Portugal and Ireland. Concern that Greece won't be able to cut its budget deficit has already sent the euro 5 percent lower against the dollar this year.
On the side of the dollar, Bernanke's 2 day testimony on Wednesday and Thursday last week supported the dollar when he stated that low inflation and a weak employment market would probably allow the US central bank to keep interest rates at the extremely low levels for an extended period of time. He also stated that the US was experiencing a "nascent economic recovery". Bernanke's statement induced great confidence in investors and caused the greenback to strengthen tremendously on Wednesday and the Euro dropped to 1.3450, the lowest point since May 2009, but the dollar weakened on Thursday and continued falling on Friday, as there was barely any follow-through buying of the greenback. On Friday in the US session, US Existing home sales came out much worse than expected at 5.05M homes compared to the expected 5.51M homes; this sent the dollar even lower to reach the weekly high of 1.3683 versus the euro.
Also contributing to the fall in the dollar was a Wall Street Journal report stating that Germany is considering a 30BEuro bailout package for Greece.
In the Eurozone today, the market will focus mainly on PMI reports from Germany and the Eurozone, and all are expected to show improved results. Eurozone unemployment rate will also be announced at a forecasted 10.1% for January, slight increase of 0.1% from December's figure. Main highlight in the US will be the ISM Manufacturing PMI to be released at 57.7 a slight decrease from the previous 58.4, but still indicating industry expansion. We are expecting to hear more on the Greece Bailout today and this should be very positive for the Euro, so more bullish movements in the pair are anticipated.
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| Resistance | 1.3829 | 1.3756 | 1.3693 | 1.3620P |
| Support | 1.3557 | 1.3484 | 1.3421 |
3 suggested bullish targets reached : 79.20 - 79.65 - 80.00 .
I advise to close all the profited bullish trades .
I'm not sure about bullish continuation, therefore I will look for a new entry points later this week.
No targets.
Chart #1 - WTI 2 hour
I advise to close all the profited bullish trades .
I'm not sure about bullish continuation, therefore I will look for a new entry points later this week.
No targets.
Chart #1 - WTI 2 hour
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EUR/USD hits both suggested targets : 1.3640 – 1.3680 .
I will look for new trading opportunities later this week.
No targets for now.
Chart # 2 - EURUSD 1 hour
I will look for new trading opportunities later this week.
No targets for now.
Chart # 2 - EURUSD 1 hour
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I've applied my "X-twisted" indicator to 2 hour S&P500 price chart.
I thinks the S&P500 index is facing a new resistance level.
I expect short-term bearish movement.
Possible targets: 1105.00 – 1100.00 – 1095.00 (1 - 2 trading days).
Chart #3 - S&P500 2 hour
I thinks the S&P500 index is facing a new resistance level.
I expect short-term bearish movement.
Possible targets: 1105.00 – 1100.00 – 1095.00 (1 - 2 trading days).
Chart #3 - S&P500 2 hour
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