Starting it off.

As posted last week, my next area for the Euro is around 1.04 (1.036-1.041).



The first test for this scenario is an ABCD to 1.0660.

Thanks for starting this up, Marcin. Nice Euro work. Die, pig, die!

Same old, same old:

China just announced total carnage in its trade data for March:

CHINA'S MARCH IMPORTS FALL 12.3% Y/Y IN YUAN TERMS; EST. -11.3%
CHINA'S MARCH EXPORTS FALL 14.6% Y/Y IN YUAN TERMS; EST. +8.2%
CHINA'S MARCH TRADE SURPLUS 18.16 BILLION YUAN; EST 250B YUAN

In US Dollars the picture is worse...

CHINA'S MARCH EXPORTS FALL 15.0% FROM YEAR EARLIER
CHINA'S MARCH IMPORTS FALL 12.7% FROM YEAR EARLIER
CHINA'S MARCH TRADE SURPLUS $3.08 BILLION

Which means Moar QE... Which means stocks limit up?


China (and Hong Kong) stock markets opened gap higher and kept going (China Merchants Bank up over 20%)...






Sources:

http://www.zerohedge.com/news/2015-04-12/china-trade-surplus-crashes-exports-imports-collapse-march

http://www.zerohedge.com/news/2015-04-12/one-these-chinese-things-not-other

For you currency traders out there, look at how the Euro reacted to the Chinese economic slam (and we know that reports are always pumped up way more in China than anywhere else, so the reality is much, much worse). Not at all. Now look at a currency that 'depends' on China. Look at the Aussie. Try a 5-min chart. Ouch.

Right. And I would expect one more push to the upside in the Aussie, if they are going to repeat fractal (for the third time) that started to appear in February.

Originally posted by jimkane

For you currency traders out there, look at how the Euro reacted to the Chinese economic slam (and we know that reports are always pumped up way more in China than anywhere else, so the reality is much, much worse). Not at all. Now look at a currency that 'depends' on China. Look at the Aussie. Try a 5-min chart. Ouch.

I was wrong. That last move up was a fractal.

1.0580 or 1.0635.

Hey, who mentioned 2100 area for a checkback? Hmmm, interesting, huh?

Euro just below key resistance

4 dow stocks