Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Monday, December 19, 2011

EUR-USD vs. S&P 500 analysis

The EUR-USD cross vs. the S&P 500 chart on Friday highlighted the bearish pressure after the hourly fake break on the EUR-USD. My doubts were confirmed ( ) as I tried to capture your attention on the strong correlation.

The S&P index followed soon after, turning the bulls morning resistance in a selling move. I have to refresh your memories here regarding the very strong support level at 1.2900 on EUR-USD (see here why is it so important:  and therefore, we should pay attention to this correlation.

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