EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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1) Most central banks are very caution about the strength of there currencies ( i.e Canada last week, New Zealand yesterday and ECB,,ect)
2) There is no sign of US investors fleeing the US for emerging market as in between (2004-2007)
3) I still think there is value in other US asset such as equity and corporate bond which attract US and foreign investors..
4) Finally USD technically in over sold territory at the moment, and any farther decline is limited.
For these reasons I am bullish USD
The last record high of short USD dollar and long Euro where in JULY 2008, and you know what happened next.
So Dont marry your self to the Euro, it might go up but it also could go down . we shall see.
Dema
US economy entered this recession first and it will get out first. I expect Federal Reserve will increase interest rates by the end of the year as the economy in the USA start to recover.
Euro/USD at 1.31-1.32 by the end of June.
Dema
I fully understand your point and I agree with you that in the long term the US dollar will decline against all commodity base currencies.
but I cant see this happing any time soon maybe some time in 2010 but for the next 2-4 months I see US dollar appreciate by 10% against all major currencies excluding Japanese Yen.
Any thought Ashraf
What is the next resistance level for the USD/CAD?
Dema
I am not familiar with your trading strategy, but I noticed you wrote early today regarding USD/CAD reversal is coming soon, so why you plan to buy the CAD next week?
Personally I am very bearish in the CAD against dollar for fundamental and technical reasons. My advice to you is to think about where to put your stop loss before you enter any trade.
Good luck
250 point in half a day in the usd/cad , almost 14,000 $ in the green. not a bad working day.
I found some currency research outlook
http://research.cibcwm.com/economic_public/download/fxmay09.pdf
In the research they highlight the positive long term outlook for the commodity base currency i.e AUD, NZD
I want long with six standard lots at 1.08 USD/CAD. My target is 1.15 - 1.18. Hopefully will be their before in 2-3 months time. Wish me luck my friends
Dema
I read on Bloomberg today that a Nobile prize winner in economy is predicting Euro reversal, and other analyst forecast Euro below 1.25 by the end of the summer. Do you thing this is possible?
I missed the recent rally in Euro dollar, if I want to enter long where shall I put my stop loss? Thank you