I like to torment myself. No, seriously, I didn't actually say that I expected a good US GDP #. I think I indicated that a good # must be expected, with a question mark. That was in relation to the market tanking prior to the announcement. I sure hope I hit my 100-p TP. If I do it'll probably be on a pure ghost drift, though extreme. s
CS - market's squaring ahead of the long weekend and the vote. If the frogs nix the vote, expect a bad feeling come market open on Tuesday. If they do not, expect a correction to come for a bit. Overall, long term is still biased towards dollar bulls. Keep in mind the following statement from Thompson, though - "EUR/USD remains poised above key technical support at 1.2490, 61.8% of 1.1760-1.3660. There are stops below but dealers also report option based and real money buyers ahead of option barriers at 1.2475 and 1.2460, a trend high in July '04 and regarded by many as a major pivot point. " The pivot point concerns me, and is why I will not take a position at this point without an extremely tight stop. Cheers. -Ivan
Is this buy the rumour, sell the fact so to spk ? Mkt worrying itself down to a "No" vote in advance - is the world short already ?
Forex is traded throughout the world. Not everyone celebrates the US Memorial Day. Therefore: The FOREX market will be open normal times, but rather lightly traded.
Hi Ivan - I'm not so sure the French vote will have large impact - either way I think it will be EUR positive - as you said elsewhere well priced in anyway. Next week should be a hunt for those short the EUR before NFP breaks Fri. If EUR does break 1.26 we should see 1.27-2730 where I can finally try and add to my EURUSD shorts. Although willl have to watch carefully... it might probe higher still. Have a "lekker" weekend