FOREX - Trends, Forecasts and Implications (Episode 18: August 2012) - page 332
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who's to say, not hiding from investors yet?)
In general, I think there is a good chance that we can still go up. But dubiously hanging an extra buy is not such a joy either.
Congratulations - we continue to fall - the hourly closed as expected higher...
If we're going to sell, sell higher ))))
The single European currency is clearly losing the basis on which it had previously strengthened. ECB functionaries' attempts to maintain optimism are unsuccessful, despite demonstrating rhetoric in line with that of European Central Bank governor M. Draghi. At the last session, the Governing Council member C. Nuaye said that the ECB is ready to resort to unconventional measures to help reduce the cost of borrowing for the troubled Eurozone countries and the leaders of France, Germany and the European Commission are in favor of bond purchases on the secondary market. However, this has not impressed the market and the single currency has remained under pressure. EU economy data was not published yesterday, no important statistics is expected today either.
Some of the releases are Germany's final CPI for July which is expected to be flat at +0.4% mom, +1.7% y/y and France's industrial production index for June which might show a 0.3% mom increase after a -1.9% mom decline earlier. The data will not support the EUR and is likely to continue selling the single currency, although a trivial sideways consolidation influenced by technical factors such as strong supports for EUR/USD cannot be ruled out.
As for me, despite your misgivings )))) Stop is already comfortable, I will not disturb it)))