I had almost forgotten about the post I did in January, but in it I pointed out the very bullish pattern that bitcoin (of all things) was exhibiting. Here’s what it looked like four months ago:
And now, having shown that technical analysis works even on goofy new digital financial instruments, we have seen it double in that short amount of time (original base highlighted):
Should the Euro break and hold above near-term resistance at 1.1250, it’s conceivable that it could reach the next level at 1.1500, as shown on the Daily chart below.
For many years, the charts have shown that, as China’s Shanghai Index (SSEC) goes, so goes Australia’s Composite Index (AORD), as shown on the multi-year comparison graph below.
However, a closer look at the following year-to-date comparison graph reveals that SSEC’s attempts to continue to advance fizzled in mid-April and is now flat for the year, while AORD remains a bit more elevated. (more…)
OK, the pun doesn’t really work, because Seoul is in Korea, but it’s all I could come up with at this hour. Anyway, the point is that the USD/JPY is pretty badly stretched to the downside, and thus has ample room to push higher, even within the context of a general downtrend. It’s already happening this morning.
I can only imagine how many FOREX accounts got firebombed in this madness (and, in a few cases, how fortunes were made).
The following five percentages gained/lost graphs show, at a glance, which countries and currencies gained the most, so far, this week (Monday, March 27 to, and including, Wednesday, March 29).