Well if that is true…
I came across this on my buzz updates, thank you Mustafa Abdel-Rhaman and I guess via forexcycle.com
If the sterling is really leading the crowd then we will see higher highs into next week on the EUR as well. I can think of no strong fundamental reason for such a higher move. The sentiment I got from scouring the web was that many players are on the fence expecting the EUR to top out at 1.30. Well perhaps we will get a top out at 1.30 with a higher low continued to a higher high following the Pound.
The EUR has been highly sentimental and technically oriented the past weeks, and should continue to be so considering the high amounts of uncertainty in the world economies.
After making a really poor trade followed by a really good trade on the EUR. I will continue to monitor the situation and look for daily ST (short term) opportunities.
**more on my trades later.
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Alexander Lê
Managing Partner
Analyze Capital LLC
analyzecapital@gmail.com
GBPUSD looks like going lower than that.
ReplyDeletegoing lower than what? and i was right on the higher highs to the end of the week for the GBP… however the EUR didn't follow… it seem everyone was more focused on the stress test for the EUR
ReplyDeleteFX Trader are you calling for a new trading range? For instance, 1.47-1.49? Personally, I'm a Sterling bull:
ReplyDelete1. Robust GDP growth for q1
2. Implementation of Cameronomic budgetary Reform policy
3. Hawkish Interest rate policy in 2011 (BOE raise before FED and ECB)