21st September, 2008
The US economy is putting all effort to return to the normalcy. Worthless would be to go deep discussing about what has happened over the past week; because people know. The question is about what and how much the effect or the reaction will be in the future. The situation for the USD is like an abandoned ball lying between the 'bull' and the 'bear'; and at the moment both reject to fight. Who will carry away with it is dubious. Or left on its destiny ?
People open a position after hearing good news and close it on account of a weak data or negative news.
For EURUSD, technically, the pair moving up may be reasonably more certain than the strengthening of the USD. If this comes true, then, this pair may cross the new height of 1.4700 or more up toward that direction. However, the fundamentalists are still hopeful for the USD recovering out of the current financial turmoil. Thus, by this way, traders on USD long could not be at major risk for the coming week.
The US economy is putting all effort to return to the normalcy. Worthless would be to go deep discussing about what has happened over the past week; because people know. The question is about what and how much the effect or the reaction will be in the future. The situation for the USD is like an abandoned ball lying between the 'bull' and the 'bear'; and at the moment both reject to fight. Who will carry away with it is dubious. Or left on its destiny ?
People open a position after hearing good news and close it on account of a weak data or negative news.
For EURUSD, technically, the pair moving up may be reasonably more certain than the strengthening of the USD. If this comes true, then, this pair may cross the new height of 1.4700 or more up toward that direction. However, the fundamentalists are still hopeful for the USD recovering out of the current financial turmoil. Thus, by this way, traders on USD long could not be at major risk for the coming week.
2 comments:
Is your blogspot? Is it your own site or is it like gzyn.com? Anyways, you are an accomplished finance writer.
Thanks for your comment and compliment. No this is not like gzyn.com. I am not an expert; I just use few report, study them, and write. If good response received, I will continue writing.
Bitten
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