Chart 1: USD/EUR as at June 1, 2010_8.46am GMT (Source: Yahoo Finance)
From the chart below, we can see that EURO index found support at the horizontal line at 121. Without a rebound, we cannot call this a double bottom reversal. If the breakout in the USD/EUR cross rate is signaling further weakness for EURO, then we can expect the EURO index to break below the 121 horizontal support. At this moment (5.00am EDT), the major European stock markets (FTSE, CAC & DAX) are all down by 2%.
Chart 2: EURO index's daily chart as at May 28, 2010 (Source: Stockcharts)
8 comments:
Dear Alex,
Thanks for your Info.
May be your visitors can get some extra info on the same subject from this link:-
http://millionaireclub88.blogspot.com/2010/06/now-eurousd-may-head-below-to-12000.html
Thanks
Hi Kyong,
Thanks for the heads up. Is millionaireclub88 your blog?
Dear Alex,
Yes, The below blog:- http://millionaireclub88.blogspot.com
It is my blog which was started hardly one month ago even though my trading activities has commenced many years ago.
This blog will touch mainly on Forex/Futures/Commodity/Options/Foreign Stocks Trading. Sometimes certain interesting Stocks listed in Bursa KL will be featured BUT quite low in frequency.
There are also some interesting trading books(Good for both Stocks/Forex/Others)FOR FREE DOWNLOADING FROM MY LINKS in the above blog
Thanks for your comments/Feedback
dear Alex,
What is your input on KNM based on price now .49? Is it worth buy and keep for period of 1-2 years?
Thanks alot.
Hi kyong
Nice blog, I just add your blog link to my blog.
Dear Durian Edge,
Thanks for your compliments, Your Blog looks excellent too !
Thanks..
Hi Layman,
I am not sure about KNM's fundamental. From the historical chart (plotted on log scale), KNM's long-term uptrend line support is at RM0.46-47. On that basis, I think slow accumulation at the present level (around RM0.49-50) may be a good idea.
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