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The charts and comments in my Blog (posted in Eastern Time) represent my technical analysis and observations of a variety of markets...
*World Indices *U.S. Indices *Futures *U.S. Equities & Sectors *ETFs *Commodities *Forex
...an expanded version of the "Observations" section in my private Daily Trading Journal.

N.B. to my readers: Although I stopped trading in July 2013, I still take a peek at the markets now and then and post the occasional article here on my Blog.

EEM vs SPX

EEM vs SPX
APRIL 21, 2014 ~ Watching Emerging Markets vs SPX to see if weakness persists or if investors place their bets on emerging market recovery.

Monday, 17 December 2012

EUR/USD Approaching a Confluence of Resistance

The EUR/USD forex pair is approaching a confluence of resistance at 1.3200-1.3250ish as it rallies towards the underside of a former "diamond" pattern/apex, as shown on the Weekly chart below. I'd expect to see a bull/bear tug-of-war around this level before it either continues upward, or reverses somewhat.

It is, currently, still under the bearish influence of a moving average "Death Cross" formation and, as such, is subject to further (and, potentially, large) downdrafts. Caution may be warranted at the moment, which may negatively affect, and produce a drag on, any bull scenario in U.S. equities, in the near term.