9th November, 2008.
Hope that US newly elected president can do any miracle to set a state of normalcy by improving first the US economy and, thus then, the global financial atmosphere, when he and his policies come into the power. For now, the same old story continues. The most serious condition amongst all financial markets is of the stock markets which also vastly affect the FX markets. What we expect from the FX is the period of consolidation to develop at least for near future. For EURUSD, last week's prediction about the range 1.23 to 1.33 should remain the same for the newt week. In an otherwise condition, if it crosses the upper limit above the 1.30, then a breakout in that direction can be assumed; on the other hand, if it crosses the lower limit below 1.2650, the breakout in that direction should be anticipated.
Traders are likely to follow the footsteps of the technical analysts, so keep watching various charts and their predictions. Reading chart is a more potential thing than just following the chart. This is an art, so master this art.
Viewers’ opinions or comments are invited. Your meaningful post whether positive or negative will be published on this site along with your name. This will provide more of the understanding and explanation. Do post @ “comments.”
Hope that US newly elected president can do any miracle to set a state of normalcy by improving first the US economy and, thus then, the global financial atmosphere, when he and his policies come into the power. For now, the same old story continues. The most serious condition amongst all financial markets is of the stock markets which also vastly affect the FX markets. What we expect from the FX is the period of consolidation to develop at least for near future. For EURUSD, last week's prediction about the range 1.23 to 1.33 should remain the same for the newt week. In an otherwise condition, if it crosses the upper limit above the 1.30, then a breakout in that direction can be assumed; on the other hand, if it crosses the lower limit below 1.2650, the breakout in that direction should be anticipated.
Traders are likely to follow the footsteps of the technical analysts, so keep watching various charts and their predictions. Reading chart is a more potential thing than just following the chart. This is an art, so master this art.
Viewers’ opinions or comments are invited. Your meaningful post whether positive or negative will be published on this site along with your name. This will provide more of the understanding and explanation. Do post @ “comments.”
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