Market: $6E_F, $EURUSD, $DX_F
As the lingering ambiguity of the United States falling off the Fiscal Cliff looms, is Europe, despite its continued economic despairs, a more lucrative investment? The United States Congress continues to battle over spending cuts and tax increases, and investors remain wary that an agreement will be reached by years end. While more robust growth rates are expected for the U.S., the risk associated with falling off the Fiscal Cliff may outweigh the risk associated with Eurozone investments. Today's NinjaTrader Chart of the Day, powered by the free End of Day Kinetick data feed, illustrates the Daily 6E ($6E_F) Mountain Style Chart overlaid by the Weekly Box Style Euro/U.S. Dollar ($EURUSD) currently pairing. Taking advantage of the multi series charting capabilities of NinjaTrader, the Daily DX ($DX_F) Mountain Style Chart overlaid by the Weekly DX Box Style chart is showcased in an additional chart panel. Both the Daily 6E and DX Money Flow Index momentum indicators, added as additional chart panels at the bottom, are excellent tools to measure the strength of money flowing in and out of an instrument. As Europe continues to address its monetary woes, some believe that European stocks and commodities are undervalued and sending money overseas could bode well for one's portfolio. Are Eurozone stocks on a path to outperform the U.S. market?
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