Forex Price Action Setups (NY Close) May 14th
Euro Hammered, Hits 4-Month Low on Greek Exit Worries As signs of a deeper recession in the Eurozone spreads with 26 Italian banks downgraded, Spanish and Italian yields at dangerously high levels, and continued worries about Greece leaving the EZ, the EURUSD got hammered selling off for the last 8+ 4hr candles or 32hrs and hitting a 4-month low. In fact, the last time the EURUSD saw this price...
Read MoreForex Price Action Setups (NY Close) May 7th
EuroZone Elections Cast Dark Shadow on Recovery Elections in Greece and France mark the next two European countries to lose the controlling parties and heads of state that were apart of the bailouts all suggesting the political support and will towards the austerity plans along with the bailouts just isn’t there. This only renewed the fears about the shakiness in the EZ and exacerbated...
Read MoreForex Price Action Setups (NY Close) Apr. 30th
Spain Sinking into Recession Hits Markets, Credit Rating Cut Again Spain having its credit rating slashed for the second time in a matter of weeks and sinking into recession has weighed on the markets today. Combine this with the weaker then expected US GDP report on Friday and we have dual concerns of the US economy slowing as well. Keep in mind, the list of shrinking economies in Europe goes...
Read MoreForex Price Action Setups (NY Close) Apr. 23rd
Spain, the Land of Orange and Wal-Mart Sink Global Markets Things just started off bad for Europe with a 1-2 combo of the Dutch political turmoil with the P.M. resigning his post over the budget cuts and austerity fiasco adding to the already unstable EuroZone since they (the Dutch) were such strong backers of the EU fiscal treaty – ironically lecturing Greece on getting its house in...
Read MoreForex Price Action Setups (NY Close) Apr. 16th
Spanish Yields Climb Past 6%, Sours Global Stock Markets In spite of stronger than expected US retail sales, Spain continues to be the thorn in the side of the EU recovery. Mostly because Spain is several times larger then Greece and since Spain’s 3 largest banks are almost double the entire Spanish GDP. Thus, if Spain sinks, or the housing market falls (hammering the banks who hold the...
Read MoreForex Price Action Setups (NY Close) Apr. 9th
US Markets Fall from Delayed Reaction to Slowdown in Jobs Report Global Stocks were hammered with the DOW posting its 4th straight day of losses as global investors returned to the markets with the US session open while London and Asia were closed. The US Jobs report last week elevated concerns about the US economy with the 120k print, well below the 203k expected while being the smallest...
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