EURUSD - Trends, Forecasts and Implications (Part 3) - page 987
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Let's see how the EUR/CHF works out...it does not look like it is going up too much...let's wait
The pound continues to rebound, breaking the New York high at $1.6255 and reaching $1.6262. The pair strengthened on speculation on upcoming UK reports, which should prove to be strong. Resistance is located at $1.6270 and at $1.6290/1.6310 area. By now the pair has pulled back slightly and is trading at 1.6245.
UK: consumer price index, April +1.0% m/m, +4.5% y/y, base value +3.7% y/y; retail price index, April +0.8% m/m, +5.2% y/y, base value +5.3% y/y
Pound reaction
Technical analysts at Commerzbank note that the British pound traded around 1.6200 yesterday. From their point of view, the outlook for the pound remains negative.
The GPB/USD tested yesterday the 1.6155 level, representing a 23.6% Fibonacci recovery from the rise in sterling since May 2010, so there is some coverage of short positions.
The bank believes the British currency will fall to its annual uptrend line at 1.6067. Experts advise investors to maintain a bearish view on the pound as long as sterling trades below 1.6520. Resistance for is located at 1.6271/89, 1.6740/50 and the 200-week moving average at 1.6989.
The pound continues to rebound, breaking the New York high at $1.6255 and reaching $1.6262. The pair strengthened on speculation on upcoming UK reports, which are expected to be strong. Resistance is located at $1.6270 and at $1.6290/1.6310 area. By now the pair has pulled back slightly and is trading at 1.6245.
UK: consumer price index, April +1.0% m/m, +4.5% y/y, base value +3.7% y/y; retail price index, April +0.8% m/m, +5.2% y/y, base value +5.3% y/y
Pound reaction
I must say that a break-down of 200 pips in the GBP JPY would be worth a lot of money.
It is important not to lose the birdie on EUR CHF - it may shoot like GBP CHF
Technical analysts at Mizuho Corporate Bank believe that the 2-week drop in sterling against the US dollar was just a correction due to the overbought pound. From their point of view, all elements of the weekly Ishimoku chart indicate that it is possible to open long positions. Strategists expect a temporary low to be formed by the end of May.
According to Mizuho, support levels for the GBP/USD pair will be located at 1.6145, 1.6050, 1.5935 and 1.5820. Resistance levels are at 1.6375, 1.6425, 1.6520 and 1.6600.
Experts advise to buy the British currency at 1.6200, putting stops below 1.6100 and fixing profits at 1.6500. The bank believes that the pair will eventually manage to break above 1.6500, after which it will face strong resistance in the area of 1.6500/1.7000.
Mashkins 50th, 100th, 200th
A reversal or a correction?
I closed my positions this morning just in case, left one small one for observation and one reversal...
Mashkins 50th, 100th, 200th
A reversal or a correction?
17th is low - 19th is high - better buy EUR CHF there is a 15 year low - and also low on the 17th so wait for the 19th
I did a crazy number of pips on AUD USD - from the 11th to the 13th -
UK: consumer price index, April +1.0% m/m, +4.5% y/y, base value +3.7% y/y; retail price index, April +0.8% m/m, +5.2% y/y, base value +5.3% y/y
The news was, I wonder why I got swap at the half of the screen )))).
Expectations for the pound came true, even better than expected.
2011.05.17 11:10:12 *Guang: The yuan's trading range should be expanded
2011.05.17 11:10:40 *Guang: Reserve requirements and interest rates should be used to control lending
17th is the low point - 19th is the high point - better buy EUR CHF there is a 15 year low - and also the 17th is the low so wait for the 19th
I did a crazy number of pips on AUD USD - from 11 to 13 -
OK, bought it, let's see...
And on the Aussie I got my demo once, calculated everything correctly up to the minute, but an incomprehensible candle started and removed the reversal, I held it until Uncle Kolya: the deposit grew to such a size, that on the next reversal and closing half of the key the second half was so big, that a tiny drawdown and the size of 30% (the boundary of Kolya) automatically knocked me out. And then, of course, the course went in the right direction. After that I don't play with exotics, not with my DC.
The moral of the story is: MM is ahead of the locomotive...