The S&P500 is negative for the year and below its 200 day moving average (dma). After a weaker than expected stimulus announcement from the European Central Bank (ECB) the US Dollar dropped significantly but has found support at its 200dma. Expect switchback volatility until after next week’s meeting of the Federal Reserve FOMC. —————————————————————————— ListenContinue reading “US Dollar finds support at 200dma”
Tag Archives: US Dollar
Dollar Claws Higher
The US Dollar continues its choppy ascent, clawing its way to a 7 month high. Watch for it to form a “golden cross” as the 50dma breaks above the 200dma. Regardless of whether the Fed raises rates next month, the Dollar is favored because of recession in Japan and all the woes of Europe. TheContinue reading “Dollar Claws Higher”