It’s been an interesting few weeks for equity markets, with the usual crop of doom and gloom ‘experts’ emerging from the undergrowth to call the top of the market, before disappearing equally quickly, realizing that they were wrong
The AUD/USD pair initially fell during the session on Wednesday, but rose high enough to test the 0.90 handle again.
The EUR/USD pair fell during the session on Wednesday, but as you can see bounced enough to form a hammer.
Turmoil in Emerging Markets hit investor confidence in January and, after a stellar February, the crisis in the Ukraine could lead to profit taking this month. Indeed, volatility spiked to a similar level and the S&P came off its all-time-high on Friday as fears started to set in.
The USD/JPY (yen) pair rose significantly during the session on Tuesday, as the bottom of the consolidation yet again offered support.We are longer-term bulls when it comes to this pair, and believe that the next significant barrier to get past as the 103 level.
On a slow news day, with only Construction PMI on the horizon in the UK, Ukraine will continue to dominate.
Option Alert Service Signal New Trade Suggestion
We were looking to initiate a bullish earnings play on Kroger this morning ahead of its Thursday’s earnings report.
As we begin the week on increase turmoil between the Ukraine and Russia(RSX, quote) energy traders are seeing the highest crude oil prices since September of last year as producers are fear political driven supply disruption.
EURUSD broke above 1.3773 resistance, indicating that the uptrend from 1.3477 has resumed.
