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Fed's Twist, ECB's Turn, Euro Shouts
Today's Operation Twist by the Fed confirms US monetary policy will be inadequately dovish to boost EURUSD and weigh on USD
1.29 is my next main target. said it on here loud and clear. And if you subscribe to the Premium service, you would see where i have my minor and more important MAJOR resistance for that corrective move.
Dave,
When i refer to corrective waves, i do not adhere to EW theory. But thanks for that. Actually, why not elaborate?
Saka,
We were short USDJPY throughout May/June before calling that rebound towards 78-79, now I am neutral (no real strong opinion on it). But if i had to chose, I have BEARISH bias on USDJPY.
Ashraf
I have shorted eu yeasterday, but it seems that It is more better to short AU or UC. I also have longed uj for almost a month, I think Bank of Japan can't tolerant it cracks 76.00 level. I mean, is this the top of Yen?
In your view, will the corrective moves be multiple and shallow, or 1.29 is the level for a major correction to start? Thanks
Outright QE3 means expanding the balance sheet which currently faces opposition w/in the Fed as well as POLITICAL opposition. They will Re-try FX swaps & USD injections then perhaps cutting rates on Onite reserves.
I see 10% chance of QE3 this year. Lots of opposition to it
Ashraf
Don't you think that thanks to this twist opration fed will have the possibility to do a QEIII ?
Ashraf