Capping Euro's Rebound
Finally, EURUSD shows signs of life (albeit short-lived) starting with a sell-off prompted by an overall market after Fitch said UK was the most vulnerable AAA sovereign, only for EUR to rally back upon reports by German govt sources about EU nations agreeing in principle in rescuing Greece. EUR then fell off its $1.3839 high when those remarks were dismissed as unfounded rumours. TRADERS MUST BE AWARE that EURUSD has fallen for 4 consecutive weeksLONGEST LOSING STREAK SINCE exactly a year ago and EURUSD remains well in midst of two major down channels (see chart). $1.3855 held up successfully against todays German-driven rumours but more upside MAY emerge when the EU Summit is due tomorrow. Any Greece rescue will prompt traders to ask What about Portugal, Spain ? Subsequent barrier stands at $1.3950. $1.32 target remains intact. EURUSD shorts stuck in any corrective bounce consider short-term longs in EURJPY as was the case today. Such a dynamic is backed by an intermediate (temporary) bottom in USDJPY.
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Dec 3, 2024 17:16 | by Ashraf LaidiWill explain this stocks & my actions to the WhatsApp Bdcast Group in more detail . سأقوم بتفسير هذا السهم بالمزيد من التفاصيل لمجموعة الواتساب الخاصة .. -
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Nov 20, 2024 12:29 | by Ashraf LaidiListen to the voice note sent to the WhatsApp Bdcst Group for detailed explanation of these charts - استمع إلى الملاحظة الصوتية المرسلة إلى مجموعة الواتساب الخاصة للحصول على شرح مفصل لهذه...
WShe cost many a good person a lot of money. That's why I joke that she was mothballed in a Witness Protection Program....
but do NOT get carried away jumping into deep shorts. always be nimble and try to be flat by end of day UNLESS of course your margin cushion is sufficient (use < 12-15% of your acct)
pipped off, interesting comments from Cohen. her role of Chief Startegist had been shifted to another role in GS investment committee some 5-6 yrs ago.
Ashraf
@pippedoff, I am assuming you are saying that the those in power are able to bid markets higher this NY session, and likely to continue into the Asian session.
oF COURSE A WEAK USD IS GOOD FOR STOCKS, BUT THEN AGAIN THEY TELL ME A Stronger usd is good for stocks.
In a nutshell, everything is good for stocks and their 401(k)s lined with their parent company GE's stock!
You mention the Eur could go lower this week. Do youhave a level/target in mind.
Ashraf mentioned his target is 1.32 bound. Do you know how long it will be before this happens. Has ashraf mentioned anythingo n the duration for the 1.32 level
Sorry to bombard you with the questions :)