Sunday, June 16, 2013

The Weekly Review: Is There A Bottom?

EUR/USD continued to show strength in the week as USD weakens. The rising Yen continues to push JPY crosses down. Currently EUR/JPY has reached its first support. Will see next week if it bounces or not. AUD/USD is struggling at support, waiting for the breakout of its last major support. If it breaks down, then you are in for cheaper AUD.

US Stocks

The Dow Jones Index still hanging on to support.

Singapore Stocks

The Straits Times Index bounced on its support as short sellers took profits on Thursday and buying started on Friday. So retailers, to buy now or to wait? You decide.

Commodities

Gold is currently in a volatile consolidation if you are trading it. The biggest movement has yet to come. Death of gold?

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