Zacks highlights commentary from People and Picks Member «inthemoneystocks».
For more Voice of the People, visit http://at.zacks.com/?id=7872
Featured Post
Dollar: Small Pullback Likely, But Bottom In
The Dollar has ripped higher over the last three trading sessions. This dramatic move has signaled a bottom in the near term. This now means pull backs in the Dollar can be bought and bounces on the Euro can be shorted.
The PowerShares DB US Dollar Index Bullish (UUP) has jumped from $20.84 last Wednesday to a high today of $21.55. This is a monstrous move for any currency and must be respected. In response, the Euro has collapsed with the CurrencyShares Euro Trust (FXE) dropping from $148.81 to a low today of $142.01.
In the next few days, expect a pull back in the Dollar and a bounce in the Euro. The Dollar is into major resistance with the 50-day moving average on the daily chart. In addition, this is a three day move and this mega move is notorious for a pullback. In addition, the FXE hit the 50-day moving average on the daily chart and this signals a coming bounce in the Euro.
After this pullback in the Dollar, the Dollar can be bought. In addition, on any solid bounce, the Euro can be shorted. This is simply because a pivot bottom has been put in on the Dollar and a pivot top is now in on the Euro. The reversals in each chart have begun.
Gareth Soloway
InTheMoneyStocks.com
About the Zacks Community
In 2008, Zacks Investment Research launched PeopleAndPicks.com, a stock-picking website where members of the Zacks community can test their strategies and share ideas with other members. Each user is scored on the accuracy of his or her picks, and top users are rewarded with free products from Zacks. Registration is free. To learn more about People And Picks, visit http://at.zacks.com/?id=7870
Follow us on Twitter: http://www.twitter.com/PeopleAndPicks
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3:1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit From the Pros by going to http://at.zacks.com/?id=7867.
Zacks Investment Research
