[Archive!] FOREX - Trends, Forecasts and Consequences (Episode 7: September 2011) - page 74
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Let me try to explain my position differently....)))) Here's the M-5 chart. I see that the decline is not complete (red lines), not complete, not enough, and it should not be (very often, on M-5 it is a triple zigzag that forms).
Conclusion: 1.The price will continue to decline as indicated on the chart.
2. Misha, you did not mark up correctly and the price will go up....)))
That's it, I can't explain my position any other way. Yes, also the calendar dates of the "gatherings", indicate a continuation of the decline as expectations.
P.S. I understand that my explanations on the chart, through Waves. Analysis, will most likely be misunderstood, will seem silly speculation, but to me it is spinning, not leaning on three elephants standing on a turtle.
let me add to your discussion with a graph of the euro
On one side is the downtrend (which has not yet been broken)
on the other side the channel (which has also not been broken)
Who has an opinion? I myself stand in the buy (and hopefully for a long time...)
let me add to your discussion with a graph of the euro
On one side is the downtrend (which has not yet been broken)
on the other side the channel (which has also not been broken)
Who has an opinion? I myself stand in the buy (and hopefully for a long time...)
I think that after September 21 and 29, 20011, the trend direction may be determined. Before those dates, it is unlikely that anything will become clear. IMHO...
it will be a flat.
It means it's going to be flat.
It's simple here:
If it hits 20 pt (four digits) - I open a short, locking an already open long (put at breakeven at 1.3743 ). In any other case I do nothing, till something sensible will be drawn :)
UPCOMING EVENTS
(all times are GMT)
Market Comments
Yesterday's trading day was again divided into two parts. First, Moody's downgraded the credit rating of French banks and the Eurozone released unfavourable economic statistics, which led to a depreciation of the Euro. However, soon the situation changed drastically: French President Nicolas Sarkozy after a phone conference with German Chancellor Angela Merkel and Greek Prime Minister Papandreou said that France will do everything to save Greece and Greece in its turn confirmed its willingness to implement the fiscal reform plan. Towards the end of the trading day, the euro found itself on edge again as news broke that the Parliamentary Finance Committee in Austria had failed to approve an increase in the EFSF. However, in the end, the single currency still closed on the plus side. Despite the stabilization of the euro, other risky currencies failed to take advantage of the situation. The Australian and Canadian dollars were among the laggards.
The U.S. economic statistics did not please either, in particular the retail sales data was dismal. On a monthly basis sales were flat, although analysts had expected a 0.2% increase. The figure for the previous month was revised downwards. PPI was slightly weaker than expected: The overall index was unchanged from the previous month, while the core index - which excludes food and energy prices - rose by just 0.1%. Meanwhile, investors on Wall Street ignored the unfavourable data. US stock indices were supported thanks to the growth of indexes in Europe. The DJIA gained 1.27%, the S&P gained 1.35% and the Nasdaq gained 1.6%.
This morning the RBNZ announced its decision to keep the rate at 2.5%. In addition, the bank said it maintained an overall optimistic outlook, expecting that the current uncertainty in the global economy will not have a significant impact on the New Zealand economy. The politicians did not hint at a possible rate hike and warned that the strengthening of the currency has a negative impact on the economy. Growth forecasts have been revised downwards. As of March 2013, growth is not expected to exceed 3.1% (compared to 4.6% according to previous forecasts). The forecast for 2014 was lowered from 3.0% to 2.7%.
During the Asian session, investors actively discussed the WSJ article which said that Moody's was going to downgrade Italy (although it was noted that three months had already passed since Moody's had put Italy on review). It should be noted that the agency needs to lower it by two points to equal the current S&P rating. Be that as it may, the euro corrected down to 1.37 and then started to slowly recover to the opening levels. Not much else interesting happened during Asian session, and all economic data was of secondary importance.
The European session will start with a speech by Bini Smaghi (ECB), followed by Switzerland publishing its production and unemployment figures and the Swiss National Bank announcing its rate decision (unlikely to be anything new after the Euro/Franc pegged at 1.20). The session will end with the UK retail sales report, Norwegian trade balance data, and the CPI and unemployment rate in the Eurozone.
North American session promises to be very eventful. It will start with Canadian manufacturing sales report and US CPI index. This will be followed by current account data, empire manufacturing business activity index and weekly jobless claims report. In addition, the states are releasing data today on manufacturing output and capacity utilisation. The weekly consumer comfort index and the Philly Fed Index will wrap up the day. The manufacturing PMIs have been underperforming lately, but overall the ISM fell less than expected last time, thanks to a good reading on the Chicago Fed's index. Perhaps the Empire and Philly indices will be revised upwards.
Greetings! that you can add a gap down and continues to decline now at 1.3711.
The week started with a good gap:
The week started with a good gap:
why it started and continued the direction of Friday...
Well, Monday seems to be the beginning of the week.)
Well, Monday seems to be the beginning of the week)))
Well, I haven't had a Monday yet, although it's been the beginning of the week for a while now.
But I am psychologically prepared to buy rather than sell today :)
Michael, it's up to you.