EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Of Gold Extensions مقياس إمتدادات الذهب
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
View Hot-Chart..
Based on your last post on eurgbp and IMT a close above 0.87 may lead to .8880. Does that mean that bearish move will be invalidated which per your hot chart is 0.8800 trendline resistance?
Kam
Based on your last post and IMT a close above 0.87 may lead to .8880. Does that mean that bearish move will be invalidated which per your hot chart is 0.8800 trendline resistance?
Kam
How about widening spreads on Portugal and Greece debts, as debt issue resurface yet again and oil prices coming off recent highs. Interesting to note that Webers yet more hawkish comments not resulting in bounce in Euro, as markets can't reconcilie his hawkishness with the reality that a hike is not just inappropriate but could be disastrous for the region.
However Eur still in uptrend technically speaking, but going long now is dangerous!
Subway: great call on short from 1.4
Kam
Equally strong resistant at 86.72 above which is my stop. Lets see how this plays out....
K
What is your view on eurgbp now that it closed above 85.80 and broken through 86.00. Do you still maintain bearish view to 81.00 and if so where do you see the bearish view to be invaldated i.e where should stops be placed?
Kam
I am short eurgbp from 85.50 based on technicals (the weekly wedge!) but am concerned that perhaps the techincals don't reconcile with the fundamental position. In you analysis back in November 2010 the pound was fundamentally better placed with Euro debt crises etc but now with the rate hike speculation, ECB rhetoric today, Dismal UK q4 growth and full impact of UK cuts ahead, are you still in favour of gbp V euro.
On another note why does 2.4% inflation in Euro zone lead to ECB being so hawkish on rate hike whilst 5% inflation in UK is not a cause of concern (relatively to Euro zone) Is this to do with relative growth prospects.
Kamran
I am short eurgbp from 85.50 based on technicals (the weekly wedge!) but am concerned that perhaps the techincals don't reconcile with the fundamental position. In you analysis back in November 2010 the pound was fundamentally better placed with Euro debt crises etc but now with the rate hike speculation, ECB rhetoric today, Dismal UK q4 growth and full impact of UK cuts ahead, are you still in favour of gbp V euro.
On another note why does 2.4% inflation in Euro zone lead to ECB being so hawkish on rate hike whilst 5% inflation in UK is not a cause of concern (relatively to Euro zone) Is this to do with relative growth prospects.
Kamran
Momentum precedes price...but this sort of strategy requires you to be nimble and disciplined.
Only exception is at the time when a signifcant liquidation or a short or long squeeze is playing out but if you stick to that strategy you should have decent probablistic edge and more importantly a smoother equity curve.
Kam
So a business will buy the risky assets of its customers to allow them to buy its goods. What business sense does that make? None. It is a short term fix probably politicaly motivated.