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Posts by "montmorency"
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74 Posts by Anonymous "montmorency":
Bear in mind that there were plenty of rumours leading up to the weekend and the mood of the market seemed to be bullish on the hope and expectation of an agreement. Some sort of a move up was pretty much telegraphed.
@Shane: I agree about the short term moves and what Ashraf refers to as "Noise". For shorter term stuff and entries and exits I do tend to get a little more technical, although a lot of it is kind of gut feel stuff rather than really technical.
There must be vested interests in buying Euros for somebody.
Yes, commodities are tricky beasts.
For what its worth here is a view from The Guardian newspaper from 1st March:
http://www.guardian.co.uk/business/2010/mar/01/viewpoint-pound-v-dollar
However, someone earlier warned us to look back and see what happened on 1st Feb.
True, but then look what happened on the 4th of Feb.
The market will decide.
Off-thread, but since Euro has been mentioned, I agree with Xaron that the weekly bars could be interpreted as bullish, and on that basis I could see a bounce up to the 1.38 area before a plummet down to the 1.30 area.(via 1.34 and 1.32).