EUR/USD - A Bullish Round-Up?

Sentiment: Bullish

Commentary: EUR/USD is price action is carving a very convincing round bottom on lower time frames (15-240min), a strong technical signal that it may be resuming its climb from 2009. Furthermore, a round bottom frequently becomes a cup-and-handle formation (see image below) when a charged move hits an established support/resistance level and retraces.

Key resistance level for the EUR/USD cup-and-handle is 1.3970.

Invalidation level is key support break of 1.3415.

Best Buy's got 3-D fever

Best Buy(NYSE:BBY) partners w/ Panasonic(NYSE:PC) to exclusively sell the manufacturer's first 3D TV bundle in US. BBY is betting on "first-mover advantage" against it's competitors. Tagged at $2,899.99 the bundle features a 50-inch plasma 3-D Viera, Blu-Ray player, viewing glasses. Best Buy's shares edge higher on news.

How effective will it be? Well, I personally see plasma as outdated...and come on let's face it, how many people are willing to wear glasses (esp. atop existing ones) to watch TV on daily basis? Maybe 3. 

Ford (NYSE:F) Short-Term Forecast

Short-Term Sentiment: Bearish

Commentary: Ford Motor Company stock is expected to fall Wednesday, March 10, 2010, and through to Friday, at which point it should start regaining some ground. Key support levels are $12.52 and 12.18. The projection remains relevant as long as the price action is contained below the immediate (and strongest) resistance level of $13.10.


IMPORTANT TECHNICAL LEVELS

Key support:
$12.52, 12.18, 11.84

Key resistance:
$12.90, 13.10

Key market dates:
March 10, March 12

Peak Projection Performance:
March 10-12

For projection shape, segments, direction, and additional information, see attached chart.

*all times in EST

More forecasts & more markets in my research vault.

If this is your first time reading my posts, please review the guide to interpreting outlooks and graphs, introduction to research and analysis, and the disclaimer.

Bank of America (NYSE:BAC) forecast

Afternoon! And what a sunny afternoon it is (just not for BAC).

My projections indicate a drop in Bank of America's stock, starting sometime tomorrow morning and ending in Tuesday's late trading session. BAC expected to find support around the  $16.44 or $16.24 level. After that, the stock  is expected to recover for the rest of the week.

Publish Post

Full forecast details can be found in my vault of research.

Happy Trading,
-Marko

Annnnnnd that was my first post.

Yep we're gonna be symbolic, and open my first Blogger post with a 2 week Google forecast I published a few days ago. Over the next while, aside from market commentary, research and forecasts, I will also unravel a bit about me, the person....just in case you thought I were some kind of financial blabbering bot.

-Marko

Google (NYSE:GOOG) 2-week forecast

Market snapshot:
NYSE:GOOG
March 01, 2010, $531.17

Immediate: Bullish
Short Term: Bearish

Commentary: expected to rise 'till March 3-4, then consolidate. Bearish-looking for second 1/2 of March.

Key support/resistance levels ($):
540.95, 551.36, 562.11, 574.93, 580
528.82, 519.21, 507, 498.62, 488.94

Key turning points:
March 3-4, 2010

Key projection performance:
Days 1-4, 9-13.

More forecasts & more markets in my research vault.

If this is your first time reading my posts, please review the guide to interpreting outlooks and graphs, introduction to research and analysis, and the disclaimer.