Euro continued to slide after the Italian referendum. EUR/USD opened with a huge bearish gap as exit polls showed the ‘No’ vote in the Italian referrendum heavily in the lead. The “No” votes are winning in most regions. Based purely on the chart, if this is a definite break…
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The Dollar Soars. Is It Bad for the Asian Currencies?
The dollar index last week broke 100, an important psychological barrier. If the dollar rises another 10%, the outlook for the Asian currencies seems worrisome, especially for the Hong Kong dollar and the Korean won. From the technical analysis perspective, the dollar index rose above 100 last week, which could…
How Low Can the Pound Go?
The British pound has fallen sharply after Britain’s official referendum, Brexit, in June. The UK’s hard Brexit has become clear. The pound again plummeted lower, and fell to 1.27 US dollars, a record low since 1985. The pound may fall to $ 1.10, or even fall to parity against the…
How Deutsche Bank Crisis Could Affect Your Investment – Part I
The biggest news in the financial markets yesterday was Deutsche Bank. The shares of DB have fallen more than 7% since yesterday. This month alone, the share prices have plummeted more than 30%. However, the Dow was pretty resilient to the news and merely dropped 1%. It seems that people…
Can a U.S. Resident Open a Foreign FOREX Account and Make a Deposit with a Credit Card?
The simple answer is no, but… Thanks to the Dodd-Frank Act. There are a good number of offshore international Forex brokers that accept US citizens and residents. However, with the Dodd-Frank Act implemented in 2010, many offshore international Forex brokers do not accept US citizens. The Dodd-Frank Act became operational…