Eur/usd

[Stony]

Don´t worry - I just wanted to tease you a little... if I make decent profit today, I´ll take you out for a virtual dinner, ok?

 

[Nancy Cheah]

Thanks a lot for your dinner, my friend.

I still believe that it'll go as low as 1.413 nett fast before retracement.

I may be right or I may be wrong so may God be the Judge.

Regards.

 

[Nancy Cheah]

It almost went as low as 1.413 nett but it retraced far too early.

Luckily, I managed to close all my positions and opened a long position and I'm still holding it as of now.

It's hovering around 1.43 nett now and I believe that it'll still be playing between 1.425 nett and 1.435 nett for the rest of this calendar week.

Regards.

 

[Nancy Cheah]

Between the 7th and the 11th of September 2009, I reckon that the lowest shall be at 1.418 nett and the highest shall be at 1.445 nett.

Regards.

 

[Nancy Cheah]

It almost broke beyond 1.45 nett as the gold price breached USD 1k per troy ounce.

Today is really an extremely profitable day since the market was relatively dead yesterday.

If the trend continues to be as such, then 1.453 nett and subsequently 1.455 nett is realistically to be achieved even before today ends.

Regards.

 

[Nancy Cheah]

The pair touched 1.46 nett briefly before retracting a little.

However, with both the oil and gold prices maintaining at levels as such, I believe we'll witness the pair going towards the 1.465 nett area.

Regards.

 

[Tiger21]

Short USD

Bearish news for the USD on Wednesday as Chicago Fed President Charles Evans said that it is too early to raise interest rates meaning interest rates will remain near zero. Also, Dallas Fed President Richard Fisher re-expressed his forecast that the US economy is in for a “prolonged period of sluggish economic performance.” Speeches today will be made by Atlanta Fed President Dennis Lockhart and Fed Vice Chairman Donald Kohn. Lockhart is going to speak about US and global interactions and Kohn will speak about the unconventional US monetary policy response to the financial crisis and within their speeches I would expect them to echo the comments made yesterday by Evans and Fisher, confirming views that the Fed plans to keep rates near zero. Further depressing the dollar, with rates so low in the US, and risk appetite increasing, investors can borrow in USD and invest in other countries with higher interest rates. A foreign exchange analyst at RBS stated yesterday: "The market is working against the dollar, which is the favored funding currency when equities are rising and you want to buy risky assets. We anticipate potential further weakness of the US dollar, and the euro is going higher."

 

[Nancy Cheah]

I believe that it'll close for the calendar week somewhere between 1.46 nett to 1.465 nett.

Regards.

 

[Tiger21]

EUR / USD – Ride the momentum. EUR / USD will go to $1.50 as investors seek additional risk and sell lower yielding currencies in favor of higher yielding currencies. From the $1.45 point to $1.50, there is a lot of money to be made in the next month or two and there is a lot of trading history in this range from 11/08 to 3/09 and 8/09 to 9/09. $1.50 will be the key psychological barrier in the uptrend, but at this point $1.45 should provide key support levels. In general the dollar is declining against all the major currencies because the dollar is the cheapest funding currency and given how liquid it is, it is easy to trade against foreign markets. In addition, the Fed has been maintaining its commitment to a low interest policy whereby rates will not be raised until they are certain the US economy is coming out of the recession in a good shape. Bernanke is well aware of the risks of a double dip recession and doesn’t want to cut credit too soon so as to cause the US economy to contract again at the onset of it righting itself.

 

[Nancy Cheah]

For the whole of this calendar week, I believe that it'll trade between 1.45 nett to 1.47 nett.

I don't see a breakout whatsoever.

Regards.