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Dollar, Euro Break 50-Day Moving Averages

Looks like there could be a new sheriff in town. What I mean is new relationships might be forming in the market place. Equities were trading in lockstep with the Euro, but maybe that does not hold anymore. Will see!

 
 

Sent to you by Dominic via Google Reader:

 
 

via Think BIG by Bespoke on 7/1/10

The US Dollar and Euro have made big moves today.  The Dollar index is down 1.8%, while the Euro is up 2.29%.  These moves have caused the Dollar to drop right through its 50-day moving average, while the Euro has broken above its 50-day.  This is the first time since mid-April that both have been on this side of their 50-days.  If told of this big drop in the Dollar and rise in the Euro and asked which way stocks went today, most would probably guess higher, but that was not the case today. 

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