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Stocks Fail to Hold Gains, But Still No Correction

Stocks Fail to Hold Gains, But Still No Correction

The U.S stock market indexes…

GLD May Not Yet Be Ready To Break Out

GLD May Not Yet Be Ready To Break Out

While I have gone on…

Decision Time

Decision Time

Last week, I mentioned that…

EUR/USD: Monitor Resistance at 1.3732

EUR/USD has made a bullish intraday reversal near the key support area between 1.3673 (see also the long-term wedge formation) and 1.3643 (see also the 200 day moving average). However, a break of the initial resistance at 1.3732 is needed to confirm a short-term exhaustion of the selling pressures. Other resistances can be found at 1.3775 (12/05/2014 high) and 1.3845 (09/05/2014 high).

In the longer term, EUR/USD is still in a succession of higher highs and higher lows. However, the recent marginal new highs (suggesting a potential long-term rising wedge) indicate an exhausted rise. A break of the key support area between 1.3673 (04/04/2014 low) and 1.3643 (27/02/2014 low) is needed to confirm a long-term bearish trend reversal (see potential double-top).

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