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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

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Monday, December 05, 2011

Investor Pessimism Rises in Europe

Data released pre-market today shows a further drop in the European Investor Confidence Index (a leading indicator of economic health), as shown on the graph below (graph provided courtesy of www.forexfactory.com). It has reached pessimistic levels last seen in July 2009: http://www.forexfactory.com/#details=33618


The EUR/USD is currently trading below a major resistance level of 1.35, as shown on the 4-Hour chart below...recent attempts to hold above this level have failed.