FXE (Euro):
The biggest concern of all is start to get close to the support levels. It has bounced back a couple time previously. Checkout the chart below:
Similarly USD approaching the resistance zone...
And now lets approach the thing we all actually care about.. Why i mentioned 12300-12600 range is where the risk-reward starts to get good technically.. Here are few charts:
DOW JONES (Daily):
A complete cluster of supports close to 12100-12300 zone...
DOW (Weekly):
Most of the previous corrections have been more or less about 38% of the recent rally. We are approaching close to that level.. A longer term trend-line from the top shows the support around 12200-12300 zone too.
Bottom Line: In the mist of all the Euro and Greece noise, I feel its time to be optimistic...
Happy Investing!!
We’re going to break down stock trading training for beginners so it doesn’t seem scary. One of the first things you need to do when you start out is to pick a good broker. A stock broker is going to be where you do all your business. Picking one that has large commissions and fees can be detrimental to a beginner.
ReplyDeleteAn important second step is going to be learning how to read a stock chart. The stock chart holds all of the clues to which direction the stock is going to move. Watch our ThinkOrSwim video on charts setup.
Another great resource for learning to read a chart is stockcharts.com. They have a chart school for any questions that you might have. Charts can look like Greek when you’re starting out. The more you look at a chart, the more you’ll understand it and be able to predict trends.