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GRIM WARNING: The 17-country eurozone risks falling into a “severe recession,” the Organization for Economic Cooperation and Development warned as it called on governments and Europe’s central …
In eur/$, no change in the long held, bigger picture bearish view as the downside pattern from the Feb high at 1.3485 is still not “complete”, and with at least some further weakness ahead. Note that the action from the May 18th low at 1.2645 is seen as a correction
US Dollar Gains Amid Euro Debt Crisis; Yen Underperforms on Ratings Cut
USD/JPY pushed above the 79.40 resistance and is now approaching the 80.00 handle in the 5/22 US trading session.
Like many USD-crosses, the NZD/USD rallied against its recent free-fall during end-of-April through May so far. As it attacks the 0.75 level, the NZD/USD formed an inverted head and shoulder to start 5/21 trading week as seen in the 1H chart. The neckline was near 0.7606
The price of oil slipped to near $92 a barrel Tuesday, on concerns about global economic growth and news that that Iran will allow the U.N. nuclear agency to restart a probe into its nuclear program.By …
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