18th December 2014

Global stocks are on the rally on a dovish Fed. Yesterday's FOMC meeting saw the Fed pledge more patience on raising interest rates.  

The Dow climbs to 17778.15     +421.28 +2.43% 


US Dollar Index 

DX closes up at 89.222 +0.147 (+0.19%)

The long term is strong positive. There a lot of professional money pouring in even within context of the Fed benign policy of interest rates. Computer generated algorithm trades comprising of weighted factors that include, but are not limited to - price change, percentage change, moving averages etc are taking large positions with the the view that 2015 is going to be a very strong year for the US Dollar as much to do with the growing strength of the US economy, lower commodity prices and weaknesses in the Euro Zone.


EUR/USD

Negative longer term is strengthening further with the EUR slide today. The current market action is indicating  the start of a major longer term trend change - Weak Downtrend. EUR/USD has now declined to the resistance area  1.2577 indicating more selling pressures to come. Support stands at 1.2247.


Crude Oil

Firm price action now is seen as WTI closes on the uptick 55.29 +0.93 (+1.66%)


Gold

1198.530 +1.635 (+0.14%)

So far Gold has tested the support at 1186 but tuesday's large daily
upper shadow suggests persistent selling pressure. Further support seen at 1170.


Pieter Bergli - DeLoren Trust Holdings

Free Forex Education


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