The above chart explains. Perhaps today we take a look at how things might turn out in the longer term.
Lets not talk about what is happening in the economy that we hear everyday - recession, inflation, bank crises, debt etc. These sort of things happen everywhere. It happens in US, EU and the world over. If we think that things are bad in the US, I think the situation is the same in the EU.
But what I want to raise today and that is not mention much in the MSM is the fact that EU competitiveness is much affected by the war in Ukraine. We must accept the fact this war affect EU more than any other country. I think it may have passed a point of no return and the grim situation would remain for a long time to come. Without access to CHEAP energy, nothing works!!! This is simple common sense.
And so it seems last night, to those of us vigilant enough, price remain very much in OBEDIENCE to the downward sloping trendline from 2008. (I have redrawn the line more accurately) - I am not a fan of trendline but it seems logical enough because in the grand scheme of things, it missed the 'D' and Resistance Zone by just about 50pips. I can live with that.
Now, if you look at the chart above, things seems to fall into place. And if so, I would think that price would now be bearish unless of course it can break above the 2008 trendline and the 'D".
Good luck.
P'/S : Do not just believe what I say. Use your common sense
Lets not talk about what is happening in the economy that we hear everyday - recession, inflation, bank crises, debt etc. These sort of things happen everywhere. It happens in US, EU and the world over. If we think that things are bad in the US, I think the situation is the same in the EU.
But what I want to raise today and that is not mention much in the MSM is the fact that EU competitiveness is much affected by the war in Ukraine. We must accept the fact this war affect EU more than any other country. I think it may have passed a point of no return and the grim situation would remain for a long time to come. Without access to CHEAP energy, nothing works!!! This is simple common sense.
And so it seems last night, to those of us vigilant enough, price remain very much in OBEDIENCE to the downward sloping trendline from 2008. (I have redrawn the line more accurately) - I am not a fan of trendline but it seems logical enough because in the grand scheme of things, it missed the 'D' and Resistance Zone by just about 50pips. I can live with that.
Now, if you look at the chart above, things seems to fall into place. And if so, I would think that price would now be bearish unless of course it can break above the 2008 trendline and the 'D".
Good luck.
P'/S : Do not just believe what I say. Use your common sense
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This is a good article worth reading. We can find many similarities to what is happening with Uncle Sam.
www.thestreet.com/di...j/japans-lost-decade
Mostly, it involves 2 major asset class - stock and real estate. Stock is now high and commercial real estate probably worth $20T may be in trouble.
www.thestreet.com/di...j/japans-lost-decade
Mostly, it involves 2 major asset class - stock and real estate. Stock is now high and commercial real estate probably worth $20T may be in trouble.
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Coming soon :)