[Archive] FOREX - Trends, Forecasts and Consequences (Episode 8: October 2011) - page 11
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If it's so bad in america, then the dollar will rise again
)))) that's for sure...
Euro towards 1.2 and below will see ...
I am not posting the information that they write on financial websites - it's nonsense, total gibberish. I don't recommend even reading it. The publication of speeches by Trichet and Beni is like a spoiled phone, no accurate information has been published anywhere, they write the opinions of various analysts (who themselves do not know what they are saying).
And what about our beloved Akmos trade ))))
21april is quiet ))))
what about our beloved Akmos trade ))))
21april What's up? )))
Fundamental Analysis (October 06, 2011 [Thursday])
ECB and Bank of England MUST do something
EUR
There are plenty of expectations for the ECB's actions today, and there are several reasons for that. Firstly, this is Trichet's last meeting as central bank governor (what if he wants to leave so that he is remembered?). Secondly, the latest data suggests that inflationary pressures are easing (what if the governing council decides to cut the rate?). Thirdly, the region's economy is clearly talking about the need for stimulus (what if the monetary authority decides to follow the Fed's lead?).
Market is in a wait-and-see mode which explains yesterday's dynamics of the Euro, which closed almost at its opening levels. Based on the current situation, many traders are waiting for a monetary easing, so there are plenty of short positions in EUR right now. Even if rates remain at previous levels, the central bank has other options - to extend the maturity of the refinancing operations, to start buying collateralised bonds again or to widen the interest rate corridor by cutting the deposit rate. Given the increasingly difficult situation in Greece and the vulnerable state of the banking sector, there is a good chance that at least one of these measures will be adopted. Of course, if it does not concern interest rates, markets will react in a more subdued way. Nevertheless, the implementation of stimulus programmes could support demand for the euro. The initial target for the EUR/USD is 1.34 and further 1.3450.
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Technical Analysis (October 06, 2011 [Thursday])
EURUSD
Prices are trying to consolidate above the level of 1.3340. If they succeed, they might continue rising, the initial target being 1.3370 and 1.3400. However, the OsMA trend indicator on the 4h chart has turned downward. Therefore it is possible that the price will start falling back to 1.3300, after pushing away from the mentioned level. On the hourly chart OsMA, SS (has moved out of the oversold zone) and RSI have gained an upward trend. All this confirms the assumption of the probability of the breakthrough of the resistance level 1.3340 and continuation of the growth phase.
Taking into account the above mentioned, in my opinion, it is advisable to stay out of the market until the situation becomes clearer. Buying with a close stop loss is advisable to consider only above the level of 1.3360.
Support: 1.3300, 1.3260/50, 1.3200, 1.3160/50, 1.3100/1.3090, 1.3070, 1.3040, 1.3000/1.2990, 1.2950, 1.2920/10, 1.2880.
Resistance: 1.3340, 1.3370, 1.3400, 1.3450/60, 1.3500, 1.3530, 1.3560, 1.3600, 1.3630, 1.3680, 1.3700, 1.3730/40, 1.3780, 1.3800, 1.3830/40, 1.3860, 1.3900, 1.3935.
"Akmos Trade
(FinForce)
The small feet have been knocked over - what's going to happen... )))