1st November, 2008.
The October ended with its new-lows and new-damages story, and with the sustained hope-full status. The Stock markets suffered panic more and more, the most amongst the financial markets. Forex remained mostly uncertain but with the obvious USD surge due to the ongoing demand of the US dollars. How much of these panic situations will continue during the November is a big question. Will the panic spread through the next month or some normalization will come into the effect ? It seems that some atmosphere of consolidation will emerge, and we hope so, in the November. For EURUSD, a consolidation range from 1.23 to 1.33 may be a bigger anticipation by the traders.
November 4th is the US Presidential election and interesting is to see how much and through which way this will move the FX, especially the USD environment influenced by manufactured thoughts, rumors, and the actual results. Will the USD demand subside or further intensify ?
If nothing going to improve, no new positive effects brought about, and thing retains its earlier position, then, forget that the month has changed. Think that the same month of unprecedented events continues, and be prepared for more panic outcomes and the news about them.
The October ended with its new-lows and new-damages story, and with the sustained hope-full status. The Stock markets suffered panic more and more, the most amongst the financial markets. Forex remained mostly uncertain but with the obvious USD surge due to the ongoing demand of the US dollars. How much of these panic situations will continue during the November is a big question. Will the panic spread through the next month or some normalization will come into the effect ? It seems that some atmosphere of consolidation will emerge, and we hope so, in the November. For EURUSD, a consolidation range from 1.23 to 1.33 may be a bigger anticipation by the traders.
November 4th is the US Presidential election and interesting is to see how much and through which way this will move the FX, especially the USD environment influenced by manufactured thoughts, rumors, and the actual results. Will the USD demand subside or further intensify ?
If nothing going to improve, no new positive effects brought about, and thing retains its earlier position, then, forget that the month has changed. Think that the same month of unprecedented events continues, and be prepared for more panic outcomes and the news about them.
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