As expected the cheers for Euro and Stock market
across globe didn't sustain for even 24 hours since deal is alarming and
grievous.Dow future hit all time high and S &P 500 tried to flirt with all
time high but later in main session market took dip though Dow is still within
100 points of all time high.
Al though investors sense of “crisis fatigue”
had limited losses for the euro and the wider impact on European financial
markets. Some believe this is still because of the promise made by Mario
Draghi, European Central Bank president, last summer to do “whatever it takes”
to save the euro, which has been widely interpreted as providing a backstop to
further bouts of instability in the Eurozone.
All
eyes will be on Durable Goods and Consumer Confidence as Cyprus news has been
digested though Cyprus market movement didn’t help our trade call specially
selling Usd/Chf and Crude oil though I was expecting stocks to come down and
also drag Crude oil.
Following
are trade calls for today,
- Sell Aud/Usd at 1.0475 stop above 1.0520 target 1.0390
- Sell Dowjones at 14505 stop above 14555 target 14405/345
For more info visit : www.cfb.ae
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