[Archive] FOREX - Trends, Forecasts and Consequences (Episode 8: October 2011) - page 19
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that's right...anything can happen today...
but since it is overbought in my view - I will only short today....
above 3510 is unlikely to go higher in a bullish scenario...
that's right... anything can happen today...
but since it is overbought in my view - I will only short today....
I don't think it will go above 3510 in a bullish scenario...
I'm thinking end of the week myself.
Kind of like a profit taking...
maybe a little more salt?
I think it's the end of the week myself.
Like a profit taking...
Shouldn't we put a little salt in it?
IMHO...))
Here's someone else to agree with regarding exchange rate depreciation:
Yesuke Sakakibara, Japan's former deputy finance minister, known as "Mr Yen" for managing to influence the Japanese currency through both verbal and actual interventions, believes that the United States and Europe are interested in weak currencies to stimulate their economic growth.
The Swiss franc is declining against its US rival due to talk that the Swiss National Bank is going to continue to implement measures aimed at weakening the national currency.
The SNB said foreign exchange reserves rose from 253.4 billion francs in August to 282.4 billion francs ($306 billion) at the end of September. Last month, the central bank pegged the franc to the euro, promising to buy foreign exchange in unlimited quantities to keep the EUR/CHF pair above $1.20. Many now believe the SNB may raise that threshold, Commerzbank noted.
It should be noted that currency interventions are boosting the money supply in Switzerland, adding to inflationary pressures. Consumer prices in the country rose by 0.3% (m/m) in September after declining by the same amount in August. Annual CPI growth was 0.5% against a forecast of 0.3% and after an August rise of 0.2%.
I won't draw mine, I'll make do with this picture! There's a 65% chance of this scenario.
intraday is also possible...
It is not obvious that the big players are shorting )))) market is waiting ...
wait for 16.30 msc.... prepare beer and nuts...)))
EUR
Perhaps the new governor (Mario Draghi) will decide already at the first meeting to lower the cost of credit. However, this time it did not happen and it made the Euro very happy and supported the strengthening of the Euro. Certainly it is unlikely that yesterday's dynamic will have a long-term effect as such aggressiveness by the ECB will lead to a decrease in the interest rate in the near future. That means a large downside potential for the Euro.
USD
Weak data is likely to be released, while weak data will confirm that the largest economic system in the world is unstable and it will add to the demand for safer assets, which ironically includes the USD. If employment levels come in above 100k, expect a surge in demand for currencies like the euro and pound against the dollar.