If equity bears are having a tough time at present, euro bears have had a torrid time over the last few years, with each move lower acclaimed as the end of the single currency, which then promptly rises and continues to survive.
Whilst as traders and people, we all tend to make New Year resolutions. The market however seems set to continue in the same vein as in 2013, with the primary focus remaining the constant debate of tapering, and as I have said before, what I call ‘tweaking’.
AUD/USD is testing a major support level, as seen on its daily time frame.
ETF Outlook for Thursday, January 9, 2014.
Well the Fed minutes have come and gone and the worry and hesitance ahead of the release was unwarranted.
The downtrend on USD/CHF may soon be over as the pair already closed above the falling trend line on its daily time frame.
The AUD/USD pair fell during the session on Tuesday, showing significant resistance near the 0.90 handle.
For gold bugs, 2013 was certainly a year to forget with the precious metal continuing its remorseless journey lower, a journey punctuated with minor rallies which promised much, but delivered little. To say it was a gloomy end to the year would an understatement.
The EUR/USD pair went back and forth on Tuesday, ultimately settling into a slightly negative candle.
Ahead of Janet Yellen becoming FED chair focus has turned to the USD dollar and whether it is now set for a period of sustained strength, and one reason offered by dollar bulls as to why it still hasn’t taken off is because the euro is even stronger!
