IIFT Daily Note with Peter Brown

Dollar Strength and stocks

Posted by:  |  Time: 6:39 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Market dominated by a strong dollar. USD/JPY reached 103.25 and the Euro bottomed at 1.2800. Stock markets continued to rise S&P closing at 1665 on Friday. More of the same is in order for the start of this week.

1.2750 is the big support level on the Euro a break through there would signal a move toward 1.2350

No sign of a correction in stocks so buy on dips again.

Levels are Euro 1.2900  1.2800  1.2750

S&P 1665  1652

Comments are closed.