Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

USD and Euro Approach Key Date

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A fellow Sloper was kind enough to send me this post for you all……

The US $ is close to a reversal and days around Jan 22, 2015 are going to be key.  Long-Term the Euro is flawed but over the near term might be time to get bullish on the Euro and bearish on the US $

Fundamentals

The Fundamentals for a strong US Dollar and a weak Euro are many:

  • US economy is perceived to be strengthening, Europe weakening
  • FED raising rates, ECB lowering rates and easing.
  • Possible breakup of EuroZone
  • ECB wants lower Euro

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The Bottom Line

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When I was presenting my mixed picture yesterday morning I wasn’t really considering the possibility that both my bull and bear scenarios would then play out in sequence, but that’s what happened with the bull scenario playing out and failing at the declining resistance trendline from the all time high, and then a hard rejection and break below the previous day’s low. This was in effect an attempt to recover over both rising wedge support and the daily middle band and that attempt was crushed, again. SPX daily chart:

150114 SPX Daily Rising Wedge

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