Tuesday, September 28, 2010

Skeleton Shift into US open update: Sept 28, 2010

FX and Equities:

5:00am Big jump on the major pairs vs the dollar, this temporary weakness caused European equities to trade higher bar the cac40.

The EUR did jump up 80 pips on the hourly chart but still trading below 1.35 resistance.

The USD/CHF still range bound from .982 to .986

the USD/CAD followed the EUR/USD after its big rally and sold off slightly from 1.036 to 1.03 currently back on the uptick of 1.03161

the USD/JPY still range bound from 84.1 an 84.3 currently trading on its lower BB bands at 84.09.

The pound made a higher high on its hourly chart (unlike the EUR which failed at resistance) but is currently on the down tick down to 1.5864 from 1.589


The dollar strength we saw at the end of Asian Trading and the start of EURO equity opens is now mixed. On the whole the dollar strength picture is still in tact and as the US opens we may see continued strength. This down tick is a good opportunity to scale in if you are dollar bull in the coming days/weeks.

The brief dollar weakness is showing up in equity strength, though if I am correct continued dollar strength will lead to a down day for US equities.

-Alexander T LĂȘ

No comments:

Post a Comment

This Blog has been developed by Analyze Capital LLC, and as an independent organization we provide “AS IS” information without warranty. The ideas and opinions expressed by the contributers of this blog are personal and do not represent the actions or policies of Analyze Capital LLC. The contents of this blog do not intend to assert recommendations or to offer advice of any kind. We are not responsible the consequences, be they gains or losses, that may result from using any of the information from this blog.