Euro
AUD/USD at major support 0.9860
AUD/USD is testing major support at 0.9860 at the time of this article. As mentioned in earlier analysis, the currencies pair is having a major technical correction at this time. When AUD/USD broke major weekly uptrend support at 101.40 last week, it opened the door for further downside possibility. Today, the first target at 0.9960 [...]
Europe’s Permanent Recession
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.
Keeping an Eye on gold at the $1300 Level
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.
IRS and Associated Press Scandals Are a Failure of Presidential Leadership
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 Technical Correction has Begun
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.
Forgiving Student Debt Won’t Help Students or Fix Colleges
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.
Can USD/Yen Moves Above 100.00?
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.
AUD versus USD at Major Support
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 [...]
What is the next direction for Gold?
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 [...]
Europe’s Depression
The whole of Europe is headed for a permanent recession–a depression. Austerity and labor reforms can’t save it. Radical measures–abandoning the euro and deficit spending in Germany–are the only way out. Unemployment exceeds Great Depression levels in Spain, many parts of Greece, Portugal and Italy, and is rising in northern Europe. Slashing government spending and [...]
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