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.
Further to my recent posts here and here, the EUR/USD Forex pair has reached a potential (double Fibonacci) support level between 1.1205 and 1.13, as shown on the following Weekly chart. A possible bounce is in store for the Euro.
Failure to begin stabilizing at this level and reclaim the major resistance level between 1.19 and 1.2125 (seen pre- and post-2007/08 financial crisis) could send the Euro plunging down to the 2000 lows of 0.8227. I can’t imgine that’s what Mr. Draghi has in mind with his ECB QE policy announcment earlier today…although stranger things have happened.
Level 3 Communications, Inc. (LVLT) is approaching lateral resistance in its two-month rectangle pattern, in which the stock has been consolidating after a 25% gain in November. If it breaks out above the $50 resistance, we could see a continuation of a trend toward $51-52 short-term. Initial stop loss is at the 20 SMA at $48.40.
Originally published on TraderHR.
From over at ZeroHedge-land early this morning……..(and appended by another chap):
A few minutes after the open, I thought we had ’em. We didn’t.
Instead of pretending that Abercrombie & Fitch is the only clothier I think is shortable, I’ll add Guess (which, as a child of the 80s, I have intertwined in my brain with Claudia Schiffer). Anyway, here be the chart, creaking at support…….
Here’s today’s swing-trading watch-list:
Long Avago Technologies (AVGO)