Current Price: 1.3592
Intermediate Target : 1.3559 – 1.3527 – 1.3425 (ranging).
Technical : this could be down ward impulse wave 3 and confirmed.
Fundamental :
Oct. 9 (Bloomberg) -- U.S. stocks slid and the Dow Jones Industrial Average fell below 9,000 for the first time since 2003 as higher borrowing costs and slower consumer spending spurred concern carmakers, insurers and energy companies will be the next victims of the credit crisis.
Markets Plunge During the Last 2 Hours
The markets experienced a huge sell off in the last 2 hours of trading, with the DOW falling below 9000 for the first time in 5 years. Part of the move was attributed to the expiration of short-selling rules. Banks and brokerages in the S&P 500 lost 2.3% after the three-week ban on naked short selling by the Securities and Exchange Commission expired. GM fell more than 30% while shares of Morgan Stanley and Merrill Lynch fell 25%.
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Here you will find our EURUSD analysis using Elliot Wave Principle and some indicators-to optimize any open position-Stochastic Oscillator, ADX and MACD. Content in this blog is for informational purposes and an analytical tool only and not intended to replace individual research.
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