Euro's Dead Cross

rkkashmir, thats a tough question. i like both USDCAD and GBPCAD but with my generally bearish stance in GBPUSD, ill say USDCAD will sustain itself. But you can use gbpcad to hedge short cable. still see room for 1.735

Ashraf

Rob, this is what is aid about FOMC yesterday in this forum so i am REPASTING IT (from yesterdays post)


The FOMC announcement will likely issue a modest upgrade of economic conditions in its wording but will maintain its low interest rate mantra of exceptionally low levels for an extended period. FOMC officials are well aware that any cogent signals to an exit strategy would be interpreted negatively by a market that is already growing nervous ahead of stepped up of Chinese tightening conditions. Market anticipation of a possible +5% handle in US GDP will likely maintain USD bulls on their yield differential foundation. I do not expect FX traders to show the same reflexive selling to the FOMCs reiteration of the low rates outlook due to heightened uncertainty from the regulatory/political front as the response in global equities.

ENGLISH TRANSLATION: USD could slip off before rebounding later on


Chloe, yes, i still see 1.06 support due to that trend line break but limit is at 1.0730 (on safe side)

for those who did not get in GBPCAD last night it rallied 90 pips, consider fresh longs at these levels 1.7140 to 1.72

IMT UPDATED

Ashraf

simao, i said many times that i dont like to sell CHF. better buy USD better do it against GBP EUR CAD etccc. if you are already long at 1.0429, id get out at 1.047-80. good luck

Ashraf