The SPX500 closed the week above the downtrend line and the 61.8% Fibonacci retracement level which was a bullish sign headed into the weekend.
The EURUSD has broken the key 1.1300 support and is at fresh yearly lows. We have a long term head and shoulder’s pattern, which if completed, could take the pair back towards parity.
The US equity markets are trading heavy after a strong selloff, is there more selling to come?
As the equity markets continue to extend their gains into the fall season, we continue to look at what the implications will be on currencies, and what potential outcomes we may have in the current environment.
Global equities had been on a 9-year rally since 2009, with the bottom being at the peak of the 2008 Global Financial crisis. This rally has been so strong that many global indices have gone up in a straight line, registering gains up to 300% over that time period with volatility hitting historical lows.
The S&P 500 and global stock markets may have found a near term peak, but how does that matter when trading the Forex market? Or more specifically, the US Dollar?
2018 is nearly upon us and the past year was certainly full of interesting events. Potentially dangerous political events in the EU – such as the French & German elections and the Catalan independence referendum – were safely navigated.