Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Tuesday, January 15, 2013

EURUSD top? AAPL bottom?

Euro has rallied off the 1,30 level quickly.

Is this it?

I don't think so..
1.33 was tested 3 times and pushed the rally back..NOW we are above that level, so we should now have support at 1.33 or close by.

How far can it go?

On the daily looks like 1.35 is reasonable short term target before a pullback

EURUSD daily

EURUSD weekly

On the weekly there is one rally followed by corrective action (Bull flag) no broken out and target could be as high as 1.40

AAPL daily chart

Still showing signs of positive divergence with price and RSI
Right angle triangle 
500 support (psychological level)
May get broken just because so many are watching that level.. a break may clear out the last weak hands and then rally, or it may start a new leg down..BUT it seems the NEGATIVE NEWS may already be priced in with the fall from 700.
click on links to see the stories
Sentiment wise everyone is negative, and yesterday front page of Market watch was FULL of bearish stories on AAPL, from cutting production to new competition from Linux based phones.  One positive story stating AAPL is cheap at 500 USD

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