EURUSD - Trends, Forecasts and Implications (Part 3) - page 744
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What timeframe is this? Maybe you are stretching the channels to 15 minutes :)
It's not hard to guess what timeframe
channels are more accurate on a 15 minute timeframe
But it's not the point... we see that the price went back to the channel... But a good divergence on D1 will be seen if the price goes up by 100-150 pips in two more days
It depends on how the channel is built )
I am going up with TP at 1.44265 :) so I want to go up and time and SL will put everything in its place and add experience to my 5 months of Forex trading
In short I'm on top with TP at 1.44265 :) so I want to go up
>On Tuesday, however, as the market calmed down after the surprise S&P statement, the euro was up more than 1% against the Swiss franc and 0.75% against the dollar.
>"What were we so worried about yesterday? - Says Robert Sinche, global head of currency strategy at RBS in Stamford. - "Liquidity is still present in surplus and will continue to be present in surplus.
>"The fiscal problems in the US should come as no surprise to anyone," notes Sinche. - And I don't know if yesterday's announcement /about the US/ really changes the fundamental picture."
>World inflation is still likely to be a driver for the market in the short term as cheap dollars - triggered by monetary policy in the US - find their way into the market and help push up commodity prices, analysts say.
>While the long-preserved US credit rating could disappear if the fiscal situation does not improve in the future, the US central bank is still expected to boost excess market liquidity through a bond-buying programme due to end in June. As a result, oil prices rose 1% in New York and the euro followed oil prices to session highs during Tuesday's trading.
2011.04.19 22:30:17 *API: U.S. distillate inventories for the week -3.361 million barrels
Currency strategists at Sumitomo Mitsui Banking Corp recalled that Standard & Poor's warned America in February that it could lower its credit rating outlook, so what happened should not surprise markets. From the point of view of experts, the US debt rating itself could be downgraded within the next 3 months.
Analysts believe that S&P's decision will have a negative impact on investors' confidence in Tregers, which could have negative implications for Japan as it will inevitably lead to a weaker dollar, and consequently a stronger yen. At the same time, a strong national currency is the last thing the Japanese economy needs as it needs to recover from the March 11 earthquake and tsunami.
The three year trendline (green) is playing the role of support for now. The nearest upside targets are 1.4710, 1.4865 etc in orange.
As long as the green trendline is not broken through and the price does not consolidate under it, it is too early to talk about a downside movement.
In the short term there are buybacks from 1.4415 (but be careful - 1.4440 is a good resistance, if we pass it, we will go further up), or sellbacks from 1.4365, 1.4355, the targets are 1.4296, 1.4275, 1.4230.