WELCOME

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

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

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.

Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Loyalty

Loyalty

ECONOMIC EVENTS

 UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...

***2024***
* Wed. March 6 @ 2:00 pm ET - Beige Book Report
* Fri. March 8 @ 8:30 am ET - Employment Data
* Wed. March 20 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. April 10 @ 2:00 pm ET - FOMC Meeting Minutes

*** CLICK HERE for link to Economic Calendars for all upcoming events.

Wednesday, December 28, 2011

Yet Another Indicator Confirming European Economic Weakness

A quick time-out from my mini-holiday to report this...

Data released today showed a further drop in the Swiss economy, as shown on the graph below (courtesy of www.forexfactory.com). It's a combined reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence, and housing. It's designed to predict the direction of the economy over the following 6 months. The impact tends to be significant, but varies from month to month. It's just another set of data that's been released lately which confirms weakening in the European economy.


At the moment the EUR/USD has broken below recent support of 1.30 and is hovering just above a downtrend line, as shown on the 4-hour chart below...it has made a new low today over the course of the past 180 days.


Additionally, the European Financial ETF, EUFN, has also dropped in today's trading and is sitting just above recent support of 14.70, as shown on the 4-hour chart below...it is showing relative strength to the EUR/USD...further weakening of this ETF should have a negative impact on the Euro, particularly if it breaks its 180 day low of 13.71.


Back to my holiday...