Is the EUR/USD in a trending market…? Today it briefly touched 1.3200 then fell quickly, does that mean its gonna hit 1.3200 possibly tomorrow and trend higher? I think its gonna bounce down then that will be an opportunity to buy on dips…what do you guys think?
Nice move for Euro and british pound before the year end, it’s usual and expected to see such move for these currencies against bearish dollar.
Thursday 23 of November, battle start prepared in Wednesday to reduce dollar against the majors, by Thursday US market closed no news released from the US market it’s Thanksgiving day, also Japanese market closed for same reason, in other side Euro zone and UK markets released a good reports, give the EUR and GBP great push helped by International banks who hawkishly buys EUR and GBP to protect treasuries against unpredictable war in Iraq and Iran’s nuclear problem.
American’s know well this situation trying to solve it after great election gives majority for democrats to enhanced American economy, but the important think to clean the front of american politics.
If reports still released in this momentum USD will continue losing its power against all major, the way to stopping this flow is to rebuilt consumer confidence by taking courage decisions.
I was thinking that the huge move was caused by lack of volume over the Thanksgiving holiday and that the market would correct itself on Monday. That wasn’t the case and it seems like this trend could hold especially if US fundamentals continue to be weak this week.
Finally took that nice dip i was waiting for, now that’s what you call market manipulation, NFP comes out better for the Us Dollar and it goes up, then after a couple hours boom. Sure hope nobody got caught in that going the wrong way, anyways have a good weekend.