EURUSD - Trends, Forecasts and Implications (Part 3) - page 520

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strangerr:

Strenger, you're looking at the chart... but I'm looking at the weekly opening prices of the last 2+1 closes of this one, it looks like a tick flapping its wings... let's go for a takeoff...tomorrow is another day and we'll see for sure
 

This was yesterday's forecast: https://www.mql5.com/ru/forum/132122/page505

And this is the price movement today:

Your comments gentlemen...

 
it doesn't look like it )
 

sanyooooook 01.04.2011 00:47

не похоже )

Eh no, the movement is the same, well, pinch))).

The amplitude is slightly different!

 
picard:

This was yesterday's forecast: https://www.mql5.com/ru/forum/132122/page505

And this is the price movement today:

Your comments gentlemen...


All well and good, but it is more important to hear the rationale behind why the price would move this way and not that way?
 
ZetM:

All well and good, but it is more important to hear the rationale behind why the price would move this way and not that way?

I didn't count anything, I just felt it, I call it intuition.

I felt it, and it's called an intuition. And the most interesting thing, my brokerage company where I studied (learning the basics of forex) often brainwashed me saying that trading is only cold calculation, and no intuition in trade and can not be ... I was brainwashed for a year and a half.

I think this is not true, intuition can be used in trading and is quite effective!

 
picard:

I didn't count anything at all, I just felt it, I call it intuition.

..., intuition can be used in trading and quite effectively!

"I'm standing on the pavement with my skis on... "

imho, effectiveness implies results (at least).

What makes us happy - the combination of black and red squiggles, or the blue horizontals?

 
picard:

intuition can be used in trading and quite effectively!

 
The euro strengthened its position against the dollar in trading on Thursday. Growth was driven by inflation data for the euro zone, which came in above forecasts. The harmonised consumer price index in the single currency area rose 2.6% year-on-year in March. Economists had forecast an increase of only 2.4%. Concerns about the eurozone's debt problems eased somewhat after Ireland reported that the country's 4 largest banks need to raise 24 billion euros in additional capital according to stress tests. This is a less daunting amount to spook the market.

The improved risk appetite also provided support for the European currency. The global financial community is more optimistic about global growth prospects. The Euro/Dollar exchange rate tested highs in the area of 1.4230 in the completed trading day. However, a correction followed. The American currency was supported by comments of Narayan Kocherlakota, president of the Federal Reserve Bank of Minneapolis, who said that a 75 basis points increase in the federal funds rate might be required by the end of 2011.
 
At a summit in Nanjing, China, the finance ministers and central bank governors of the twenty most developed and emerging industrial nations agreed to consider adding the Chinese yuan to the basket of currencies that constitute the International Monetary Fund's artificial reserve and payment instrument, called SDR (Special Drawing Rights). The move was initiated by French President Nicolas Sarkozy. He was supported in his comments by US Treasury Secretary Timothy Geithner. The decision was intended to push the Chinese authorities to loosen control over its national currency.

"Isn't it time to agree to expand the SDR basket and add new emerging market currencies such as the yuan to it. We must support the inevitable internationalisation of the world's major currencies," Nicolas Sarkozy said in his comments. The introduction of the Chinese renminbi into the SDR currency basket means recognition of the country's economic strength. However, it certainly entails an appreciation of the renminbi. Currently, the SDR basket includes currencies such as the U.S. dollar, the euro, the pound sterling and the yen.

Since 2005, official Beijing has gradually loosened control over its national currency. However, a number of countries, led by the US, believe that the renminbi's pace of strengthening is insufficient. Creating artificial weakness in its national currency gives an unfair advantage to Chinese exporters. "Asymmetry in exchange rate policy creates many problems. The risk of inflation in emerging economies with an undervalued currency is increasing." - Timothy Geithner noted in his remarks.

Including the yuan in the SDR basket could be a major political victory for Nicolas Sarkozy, but many experts strongly doubt the reality of the idea.
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