The weekly chart of the EURO below shows some impressive
strength from mid 2012 to now, rising from 1.20 to currentl levels near 1.33. But
as it approaches some major resistance in the form of moving averages and its
reaction high from early 2012, as well as its extended momentum gauge as shown
on the bottom, it is more a time to be cautious than outright bullish for US
equities. Since this is a weekly chart it is not an exact level for today, or
this week, but an overall level from which the currency should pull back..and
lead a drop in US equiities.
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