Yesterday brought a whirlwind of market drops starting off with Crude oil, which seems to be making the headlines today, as it continues to plummet. Making it harder for economists to shed positive feedback on this commodity it seems that a start like this will make for a tough year ahead. Rumor has it that investors are looking at a dismal $20.00 per barrel in the coming months. Ouch!
Further drops in the market this morning are Apple stocks. Traders see a 6% drop and this could as well be a sign of continuous weakening for the remainder of this month. A bullish turn is a result of investors increasing Apple prices to target much higher levels.
More gloom to report in the EURO news, which is leaving traders perplexed this morning, after reaching an all-time low in a 9 year rally against the USD. This comes about by threats from Greece looking to pull out of the shared currency. Whereas the USD reached its sturdiest in nine years with the Federal Reserve moving toward increasing interest rates. The USD is also strengthening on the back of the wearing oil price.
My Calls for the day are focused on the USD/EUR. On the other hand a strengthening JPY, owing to the release of Japans monetary base maintaining the forte of the JPY, a PUT is in order when trading the USD/JPY.
Tip Of The Week – Never risk more than 5% of your total trading account, overexposure can lead to devastating losses.
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