The USD continued downwards against the majors in the overnight trading session as the US holidays resulted in low volume trading. Due to Thanksgiving the NYSE and the NASDAQ were closed for business. The EUR/USD has set a firm base at the 1.2950 zone sliding slowly towards 1.3000 which is a huge physiologic barrier on traderâs minds. Due to the fact that many traders didnât anticipate the large pullback from the USD a couple of days ago, many new orders have been triggered on the USD sell side waiting for a reversal. However one must remember that the holidays are at the doorstep and while consumer spending is going to rise, importers will try to satisfy their shopping needs by bringing more goods, expecting a low USD in order to raise retail sales. Furthermore the democratâs control of govern has more impact on the bear side of the USD and has not yet been fully reflected by the market, investors are waiting for further US growth and inflation data next week and until then the market should stay below the two year high barrier of 1.3000, with a good chance to break above next week. i wrote this one today i need people to let me know what they think
hello pere... Thanks for the thread. By the way we all know the dealer your using so no need to mention it. There are other discussion (s) here too... http://www.elitetrader.com/vb/showthread.php?threadid=81246 http://www.elitetrader.com/vb/showthread.php?s=&threadid=81172 Happy Thanksgiving. Michael B.
i would like to add you to my safe list if thats ok with you. and please let me know anything that you think about this market
I do not know what that means...as far as lists of saftey...Guru's etc (all of which you mention here and in other threads)...your personal journey is entirely up to you. As far as the conduct rules of ET...the only thing that might involve moderation in this issue, would be: http://www.elitetrader.com/conduct_rules.cfm 3) You are not to harvest or collect information about the users or members of this site or use such information for the purpose of transmitting or facilitating transmission of unsolicited bulk electronic e-mail or communications. As far as the USD tanking... the reaction will be quite revealing from the Fed. We might see how the new administration is affecting the Fed's "ceasless inflation control" policies. I would be interested to know the ratio of Japan's dollar denominated assets verses Japans exports (this is more important than you think in the illusion of Japan's unwinding of the carry trade and their illusionary recession that they strive to maintain, to further their domination of world productivity). Also "Just in Time" shipping has matured and the management of inventories become increasingly more efficient and fluid in today's information-rich world. We are nearing month end and soon year end adjustments that "big money" makes, to take their place in history. Michael B.
some short comments seem to support some of my commentary above... http://www.fxstreet.com/news/analysts/