Written by Matisyahu3
Hi Everyone,
So far today we are seeing a massive surge in Safety Assets. USD and JPY are rising against the rest of the market. This sentiment can be seen most in Crude Oil, which is often a great indicator of investor sentiment. Crude has fallen a total of 9 Dollars per Barrel (%10) in the past few days.
Nothing specific seems to be causing this move other than the fact that all the cards have been played. Europe announced its bailout plan, America started buying mortgages, Japan increased their safety fund. So what’s left, other than the unsolved underlying problems that caused the crisis?
Today could get a bit choppy. After all, the short term trend is still up on most risk assets since the beginning of August. So keep your eyes on the 15 minute charts for direction and check the Daily charts for possible support and resistance levels.
Check the Economic Calendar and the Open Book for breaking news. Feel free to contact me anytime with any questions about the market or for assistance in your portfolio.
Happy Trading,
Mati Greenspan, Senior Account Manager
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