Anyone thinking EURUSD 1.38 is on the card soon (3-4 months) must be crazy. USD cannot go to such strength before they start to raise interest rates BEFORE Eurozone.
Ashraf, what do you make of the breakout above the key 0.845 level in AUDUSD on Friday; where does this place the 0.826 target for now? The GBPUSD high of 1.641 above the previously noted 1.637/8 top - do you stll see 1.627 and then 1.623 as discussed on Friday before the break higher? Do you attribue these highs to a thin Friday market or a possible continuation of the risk appetite to even higher levels based on recent good news?
Thanks for the comments - seems like your oils predictions lower are spot on.
RBNZ was begging last week for the NZD to e weaker, but the market obviously don't care much about that. They also said last week they don't have money to intereve, which I think was strategically a bad move.
H Ashraf Are you still confident baout shorting NZD to 0.64800? Wat about AUDNZD? It seems like a downward channel, currently at the top resistance line as you mentioned yesterday.
As we know, they are very concerned about the NZ$, but cannot really do much about it other than trying to jawbone it down - not with much success though. I see it dropped about 70 pips on the announcement and concerns. This will probably recover in the next few days to the highs of 0.66 again as I see it. Your views?
Take a look at these charts. We shared the details and trading implications with our WhatsApp Broadcast Group.
Latest Hot-Chart - Dec 06
DXY & CNH
We know the DXY is highly correlated with USD/CNH so if the Head-&-Shoulder on USD/CNH formation proves valid, then further USD downside lies ahead. ..
View Hot-Chart..
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Thanks for the comments - seems like your oils predictions lower are spot on.
Thanks
Are you still confident baout shorting NZD to 0.64800?
Wat about AUDNZD? It seems like a downward channel, currently at the top resistance line as you mentioned yesterday.