On May 6, I wrote Europe was in danger of falling into a permanent recession-a depression. http://www.thestreet.com/story/11914649/1/dire-straits-for-europe.html Now, the European statistical agencies report France joined Italy and Spain’s recessions during the first quarter, and economic activity across the entire Eurozone continued to contract.
The value of gold continues to decline as the U.S dollar gains strength in recent days. There are good supports at $1404 then $1320. It is important for gold to stay above $1300, a break of this level may signal the end of the decade bull market. Resistances are $1450 then $1490.
News the IRS targeted conservative groups for intense scrutiny is just one in a series of revelations pointing to a culture of expediency and intolerance in the Obama White House that corrupts this administration. Consider the September slayings of Ambassador Chris Stevens and three other U.S. diplomats in Benghazi. If the attack were revealed to [...]
AUD/USD broke major weekly support line at 101.50 late last week. It looks like the currencies pair major technical correction is under way. The first initial target is 0.9886, the 23.6 percent Fibonacci retracement. The final target of this correction is 0.9143 the 38.2 percent Fibonacci retracement.
College is too expensive, graduates can’t find decent jobs and pay off their loans, and students, parents and educators all share in the blame. Now, President Obama proposes to forgive more student debt and that will make a bad situation worse.
Here are the forecasts for upcoming economic data.
The bullish move in the USD/Yen is halting at the 100.00 level. There are a few good reasons for this. One, 100.00 is a psychological resistance level. Second, technically, it is also an important 50 percent Fibonacci retracement from the 124.00 to the low of 75.55.
by Dixon Fung The Reserve Bank of Australia quarter percent surprised rate cut last night drove AUD/USD lower. The currencies pair had a huge gain since 2009 with very little correction. At the time of this article, the market is testing the major support at 1.0150. If this support breaks, it signals a further down [...]
The Senate recently passed a bill that would require internet retailers to collect sales taxes on behalf of local governments. This bill has flaws that could be fixed in the House, and should be passed. I don’t like the idea of the state and local governments collecting more taxes-they know no limits to their capacity [...]
Gold is consolidating at the moment within $1400 to $1500 levels. The next major direction for gold is still uncertain. If gold does go below $1300, it might signal the decades Bull Run is over. At the moment, there are a lot of natural demands for the commodities which is lending support for gold. Gold [...]