EURUSD - Trends, Forecasts and Implications (Part 1) - page 10
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It seems to me, however, that the recent moves are a pathetic attempt by the dollar to somehow "score a prestige goal"!
The main trend is still upwards.
EURUSD (6EZ9), M30
It seems to me, however, that the recent moves are a pathetic attempt by the dollar to somehow "score a prestige goal"!
The main trend is still upwards.
EURUSD (6EZ9), M30
The news is very good for the USD.
We will wait
It seems to me, however, that the recent moves are a pathetic attempt by the dollar to somehow "score a prestige goal"!
The main trend is still upwards.
EURUSD (6EZ9), M30
I think, that this "prestige goal" is at 1.4470,
I think this prestige hill is at 1.4470,
I've already slept, and the carriage driver keeps drawing triangles.
He does not have enough money for the last push up.
So, it's going down soon.
I wonder when he'll start to flush?
VTB Commentary
So, in the last 24 hours EUR returned above 1.46 and yesterday even updated the highs of the year at 1.4651, but could not develop further success and was declining today to 1.4577. Equity markets didn't move much either, yesterday Dow Jones index corrected its fall of the day before yesterday and closed with +0.52% at 9626. However, the Dow futures are now down 0.16%. But it can be noted that oil has moved noticeably away from yesterday's blow, with a barrel of WTI trading at $69.24.
A notable development of the last 24 hours was yesterday's announcement of volumes for today's auction of 4-week bills. ...... ......
The regular bill settlement date falls on every Thursday, on which day 21.4 billion dollars of liquidity will hit the market, which will of course hit the dollar. Unless, of course, a cash bill issue is announced on that date in order to refinance the redeemable volumes. But in any case, the trend towards reduced appetite of the US Treasury cannot be ignored.
Yesterday the Eurozone industrial production data for July was published. In YoY terms this figure rose to -15.9%, while the low was observed in April at -21.3% YoY. At the same time in the US industrial production in July was at -13.1% y/y, and the biggest fall in May was at -13.4% y/y. As you can see, industry in the Eurozone has recovered from the crisis to a large extent and the decline here is currently a little bit stronger than in the USA. In the USA industry is still "at the bottom". The leading indicators are now showing a sharp improvement in US industry, and we may see growth in the coming months, but it will only be significant if the dollar exchange rate is favourable to US manufacturers.
We still expect the dollar to fall in the coming weeks. There is not much left to our long-time target of 1.47, but we now expect that the short-term trend we started will not end before 1.49.
I've already had a good night's sleep, but the coachman keeps drawing triangles.
He doesn't have enough money for the last push up.
So he's going down soon.
I wonder when he'll start to flush?
Probably already started the move down... And the move down will be a long one...
Comment from VTB
So, in the last 24 hours EUR has returned above 1.46 and even made new highs yesterday
We are still waiting for the USD to fall in the coming weeks. It is a little way to 1.47, which we had planned a long time ago, but we now expect that the short-term trend will not end before 1.49.
I have to confess that I've been working on the forecasts of these VTB newsletters since the beginning of the summer or so.
It happens (not infrequently) that the execution of these forecasts is a bit delayed. And the price goes slightly against the forecast at first.
But in the end I usually profit, and frequently make good profit.
VTB mailing list data plus the construction of tehanalysis has helped me a lot in recent months when trading manually...
I must confess that I have been working on the forecasts of these VTB newsletters since early summer.
It happens (not infrequently) that the execution of these forecasts is a bit delayed. And the price goes slightly against the forecast at first.
In such cases, I tend to "average" out the position, but in the end I almost always end up in the profit, and often in a very good profit.
This newsletters plus the construction of tehanalysis helped me a lot in the last months of manual trading.
I remember that, sir.
But somehow I have some doubts about 49.
They don't have the strength to break 4640.