The U.S. $ is still strong, as shown on the Daily chart below...will see if it carries on over resistance. Any hint of weakness may be the catalyst that propels the markets higher...but I'm thinking that with the banking mess in Europe at the moment, that may be a long shot.
Angela Merkel needs to pull a rabbit out of the hat...Euro-bonds perhaps?...or even just another rumour about them? A rumour wouldn't surprise me!
In the meantime, the EUR/USD continues to slump, as shown on the Weekly chart below. Major support lies in the vicinity of the 50% Fibonacci retracement level at 1.2125.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. March 30 ~ U.S. markets closed for Good Friday Holiday
* Fri. April 6 @ 8:30 am ET ~ Employment Data
* Wed. April 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. April 11 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. April 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. May 2 @ 2:00 pm ET ~ FOMC Announcement
*** Click here for link to Economic Calendars for all upcoming events