Good evening,
while U.S. stock exchange has been closed today for Washington's Birthday, the main stock markets had a contrasted session with low volatility.
During the weekend the G-20 has essentially given the "green light" to Japan for its expansionary monetary policy, denying, in fact, the existence of a "currency war" (the ECB itself has also stressed that the Eur/Usd exchange is located within a "normal range" and the Eur/Yen pair is in a "not dramatic" appreciation level).
From Germany we had today the forecast of a higher a growth in the first quarter of 2013 and we will see tomorrow, about this, the result of the monthly confidence index ZEW.
ANALYSIS
US Oil: today (with the opening of the new monthly contract) the price is falling and approaching the important support level in area $ 94 - 94.80. It will be interesting to evaluate its stregth to verify the possible continuation of the medium term upward movement (and any possible Long signal) or a reversal move, in case of breakout, with bearish targets on levels $ 92.50 and $ 90.
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Thank you and see you tomorrow.
Maurizio Orsini
while U.S. stock exchange has been closed today for Washington's Birthday, the main stock markets had a contrasted session with low volatility.
During the weekend the G-20 has essentially given the "green light" to Japan for its expansionary monetary policy, denying, in fact, the existence of a "currency war" (the ECB itself has also stressed that the Eur/Usd exchange is located within a "normal range" and the Eur/Yen pair is in a "not dramatic" appreciation level).
From Germany we had today the forecast of a higher a growth in the first quarter of 2013 and we will see tomorrow, about this, the result of the monthly confidence index ZEW.
ANALYSIS
US Oil: today (with the opening of the new monthly contract) the price is falling and approaching the important support level in area $ 94 - 94.80. It will be interesting to evaluate its stregth to verify the possible continuation of the medium term upward movement (and any possible Long signal) or a reversal move, in case of breakout, with bearish targets on levels $ 92.50 and $ 90.
[Dear Guest/Member you can't see link before click here to register]
Thank you and see you tomorrow.
Maurizio Orsini
