WELCOME

Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.

Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Paris

Paris

ECONOMIC EVENTS

 UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...

***2024***
* Wed. Dec. 18 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference

*** CLICK HERE for link to Economic Calendars for all upcoming events.

Wednesday, February 29, 2012

Effects of ECB LTRO 2 on EUFN and EUR/USD

The ECB made available $530B in loans to EU banks today in order to provide liquidity to banks...known as LTRO 2. $489B in loans (LTRO 1) was made on December 21, 2011.


The reaction, so far today, on the European Financials ETF (EUFN) has been negative, as shown on the Daily chart below. Price has been trading in a range just below major resistance, and is still subject to the bearish influences of the existing 50/200 sma moving averages Death Cross formation. Additionally, there are negative divergences in play on the MACD, Stochastics, and RSI.


Similarly, the reaction, so far today, on the EUR/USD forex pair has been negative, as shown on the Daily chart below. Price has been trading in a range just below major resistance, and is still subject to the bearish influences of the existing 50/200 sma moving averages Death Cross formation. Additionally, there are negative divergences in play on the MACD, Stochastics, and RSI.


Time will tell whether the European financials and the EUR/USD hold at current levels, or whether a pullback follows in these instruments, and, ultimately, in the European banks.
Posted by at
Labels: