[Archive!] FOREX - Trends, Forecasts and Consequences (Episode 6: August 2011) - page 38
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I do not follow all currencies closely, I cannot say anything about them. But for the EUR and USD, the reaction to the events was predictable back in May and I wrote about it and periodically reminded you of it.
No need to search - the daily analytics of any major DC. Surnames are rarely written. They usually sign it "in-house analyst of so-and-so company" :)
I think everyone knows what we are talking about and there is no point in arguing about it. One thing is clear to me, predictions, especially long-term ones, are more the province of science fiction writers. And it certainly does not concern the average trader, who wants to take a pip here and now, and who does not care what the serious guys said in May.
A pip, you say. Here is the prognosis, we are flat now and go south tomorrow after Asia. Target is 1.41500.
To clarify: give an example-forecast by a "serious analyst"
You can listen to Demura and Korabianz, and not always
To clarify: Give an example-forecast by a "serious analyst"
Easy. Prediction like "there's a long road ahead of you and interest in the execution house". So sell the poundoyen or buy it!!!? Everything below is a quote.
Last : 125.55
SUP 1% : -0.20
RES 1% : 0.48
GBP/JPY intraday: Under pressure.
Our view: SELL below 126.15 with targets at 125.3 and 125.
Alternate scenario : A break up at 126.15 would open the way to 126.5 and 127.
Analysis : RSI is mixed, but with a bearish trend.
Key levels
127
126.5
126.15
125.55 last price
125.3
125
124.2
Pips, you say... Here's the forecast - it's flat now and we'll go south tomorrow after Asia. The target is 1.41500.
I think everyone understands what I'm talking about and it is useless to argue about it. For me one thing is clear, predictions, especially long-term ones, are more the province of science fiction writers. And they certainly do not concern the average trader, who wants to take a pip here and now, and who does not care what the serious guys said in May.
Long-term forecasts have nothing to do with it, you just have to understand the market (what it is waiting for and what it has waited for). The uncles (including Soros) started talking about it back in February, but all sorts of "apocalypses" (Libya, Fukushima) rolled in and they forgot about the US default and the debt of peripheral Eurozone countries, and remembered it when the US state budget limit was exhausted and the deadline for the Greek loan application report in May approached. I have described in detail how the EURUSD will evolve and that there will be no default and that the Eurozone will not collapse and much more ....
Why are you writing after the vote then:
Well, that's it, Obama has shot off... Now what? The market itself doesn't seem to know what to say to all this)
After my explanatory post you write:
Comedians, you got a clever explanation for everything.) If the market had gone the other way round, you'd be reading a different text now.)
You can listen to Demura and Korabianz, and not always