Every talking head on the financial news networks are celebrating the new all time closing high on the Dow Jones Industrial Average (DJIA). Last week, the DJIA crossed above the 14,198.00 level that was last made in October 2007. Today, the DJIA is trading as high as 14,515.00 which would be another new closing high on the DJIA. Many analysts and Dow Theory followers are looking for much higher levels on the DJIA. So what are the problems with this rally if everyone is so bullish at this time?
These days we are constantly hearing about currency wars taking place across the globe. Almost every leading country is trying and racing to devalue their currency in order to boost their exports. Just look at the recent action by the Japanese government and the Bank of Japan (Japanese central bank). The Japanese finance minister actually stated they his goal was to get the Nikkei 225 Index up to 13,000 by the end of March. You cannot make this stuff up. Never before has a prominent government figure made such a comment. ...
The Currency War Big Picture Analysis for Gold, Silver & Stocks
Precious metals and the currency are flying around the news just as much as the presidential election that is beginning to heat up. But unlike pulling a lever at election time, investing in the currency markets can be much more difficult and even dangerous if you don't know what you are doing.
Forex traders trade with the trend, that’s a fact. Trends are the strongest indicators of how well the currency pair are doing over the last couple months or years. Trading the trend may sound simple and many traders are taking it as a “de facto” of their overall trading strategy, if so … you really need to reconsider your Forex strategy.
BillHionas.com Offers an Introduction to the Exciting World of Precious Metals
Greece continues to drag the Euro down. Almost every night there seems to be another dramatic issue bubbling up from the most troubled European country. The CurrencyShares Euro Trust (NYSE:FXE) is getting pounded on the back of these worries, trading at $142.23, -1.69 (-1.17%). As the Euro falls, the Dollar soars. As the Dollar soars, the markets collapse lower.
EUR/USD declined to the 1.3968 low, breaking below the 1.4020 major support line. Intraday bias remains on the downside, as long as the 1.4344 minor resistance line is not broken. On the downside, if the 1.3968 low is broken it will continue the bearish sentiment to the 1.3854 major support line.