FOREX - Trends, Forecasts and Implications (Episode 17: July 2012) - page 128
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On 29-06-2012 the second financial quarter of this year is over! As you can see from the price charts, all through the last financial week of this quarter many
Euro-accounting companies have been buying up Euros, closing transactions to show the real amounts in the Euro-accounts and calculate real profits
or losses and report back to official and unofficial owners of companies, funds and banks "real and concrete!
The most active buying started in the last 2 days : 28-29/06-2012.,(during this period of time "smart money" - sold EUR & GBP !!!)
which resulted in a price increase:
1....EUR/USD ---- from 1.2407 to 1.2692 by +285 pips.
2....GBP/USD----- from 1.5484 to 1.5714 by + 230 p ips.
The smart money started the new week of the new quarter with a price collapse ( in particular for EUR/USD the collapse started already at 11:00EDT on 29-06-2012) :
EUR/USD= - 426pips(1.2692-1.2266) , showing a "sort of" resumption of the downtrend (if we continue at this pace and also
(If we go further at this rate, and without correction, it will be parity in 5 weeks!!!).
GBP/USD= -261pips(1.5721-1.5460)--- "brothers" from EBS created a classical reversal pattern, showing"as though" a renewal of
of the downtrend!
It is hard to imagine how much EUR and GBP volume the "smart new money" owners bought up for USD in these price ranges during this first week
of the new quarter, taking advantage of an exceptionally kasher situation that occurs only 4 times a year!!!
Of course they can keep driving the price down, but why the rush? All life is ahead of us !
Therefore, at the beginning of next week (from 17:00EDT 08-07-2012 to 17:00EDT 13-07-2012), I expect an uptrend(upward correction
to the trend impulse down or up in the flat --- it does not matter!) Schedule of the open position on GBP/USD pair attached below!
I wish you all good luck in trading! (...P.S.... "Business" - at the prosecutor, and at us - "business" !!!).
Macd55 You don't have to enlarge the text and make it bold in order to be heard and seen. You just have to say YOUR point and if people like it, they'll notice it, but otherwise it's just disrespectful to forum members.
Disappointing to those in the bajas, but my OP analysis says that was just the beginning of the decline
Anything can happen, time will tell MOP (sorry for kaweking your nickname, no offence)
Anything can happen, time will tell MOP (sorry about your nickname, no offence).
It's all right. I'm used to the taunts. I salted from 1.24 and every 100pp or so I added more, the last addition was at 1.2690, and I heard a lot of ridicule about 1.37...1.4... But I firmly believed that I would close on the profit. I did. But I still have one medium-term order that has already gone over +400 pips. By the way, it is interesting that no one has voiced the nature of this fall here. Because everything was going against the news. The Americans were just dumping the Euro.
It happens very often after the news release the market goes in the opposite direction (speculation), you have to take it into account. Also, when you indicate the pips the last digit is discarded