Euro Fighting For Survivial

This morning I had to hold off parsing my symbols at least until Draghi was done bitch slapping the Euro around. And I’m glad I did as the wild swings haven’t been pretty, largely thanks to the fact that ole’ Mario is a skilled grandmaster at flapping his lips without really saying anything substantial. Which of course is was one of the reasons they gave him the job in the first place. Among today’s highlights are “uncertainty prevails everywhere” (you think?), “need for structural reforms” (what a novel idea), and my favorite “risk of deflation has largely disappeared” – emphasis on largely.

As you can see the Euro keeps getting slapped lower near its 25-day SMA with daily support waiting near 1.05 and 1.06. However that’s only half of the picture.

The long term view shows is at the 100-week and 25-week SMAs the latter of which is now in the process of crossing below. There are also two monthly Bollingers (25-m and 100-m) which are converging with price dancing right above it since last month. A drop below here would be rather fatal for the Euro and most likely drop it down to par or worse.

Meanwhile things have been increasingly effervescent on the equities side. You may have missed our post session video wrap up last evening and if you want to know how a bonafide trend day looks/feels like then I strongly recommend you check it out. We’re already calling it the 2016 Krampus rally and if you snagged our Tuesday long entry then you probably are looking forward to celebrating a bountiful Christmas right now.

Update on the British pound which unfortuantely stopped out us at ~1R yesterday.

Silver is still in play fortunately as we spend quite a bit of effort getting positioned near the lows. For now I wouldn’t touch this campaign except for advancing my stop a respectable distance away. I have an inkling this one may just finally manage to make a run for it.

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Yes, the British pound futures again – you may play the GPB/USD if you prefer of course. My entry is here with a stop below 1.257. Of course if you’re lucky you may be able to snag it further below.

AAPL is a short here until it is a long. See the campaign instructions on the chart. Reason for my binary perspective is seasonality courtesy of our friends at Financhill.

Once again you can click on the chart for a dynamic view. Seasonality is a mixed bag in the near future – it’s supposed to be soft in the coming weeks but then ramping up in January. My daily chart above shows it curling up near its 100-day SMA which is currently pushing sideways. So we may just have one more surprise sell off in store for us. Either way I’d be long after a ramp followed by a retest of the 100-day SMA.