FOREX - Trends, Forecasts and Implications (Episode 13: March 2012) - page 253
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What about you? Buying? Wanted to pipsqueak?)
Should we look at other currencies as well?
Euro continues to rise on rumours about China
The Euro continues to rise steadily, the pair absorbed stops at 1.3240 and strengthened to 1.32... by now. Traders believe that the reason for such rally might be rumors about China's intentions to lower reserve requirements for banks.
Keyword: FOREX
"Today HSBC published preliminary Chinese manufacturing activity data for March, with the activity index dropping quite sharply to 48.1 after three months of stabilisation. The new orders index declined and the employment and manufacturing indices also declined. Moreover, all indicators are still below the 50 mark, which indicates that the economy continues to slow down. The data are still preliminary but the trend of a slowing Chinese economy is continuing and the slowdown is becoming more and more evident." - yesterday's news
The hump is being sculpted
Dollar/yen selling mid-term from 83.40
GBP/Yen down mid term from 1.5880
Euro/Yen down mid term 110.20
For those from Mars, the price was 3200 this morning and now (when I got home) it's 3290.
and you don't use stops?