Quote:
|
Originally Posted by psytrader
We are now sitting at the support from september of 04. The obvious fundamental change with the BOE and FOMC is part of the story.
What do you think are other factors, if any?
Regards,
Psy
|
I think 1.76/1.75 are critical levels. We've got some big events next week, MPC, ECB, G8, NFP....
The market seems to be totally focused on interest rates, eventually I think US fundamentals will come back into the picture. Now whether investors sell dollars and buy European currencies is debateable, there is a view that money will go into precious metals, in particular gold.
My bet? I wouldn't like to short from these levels for anything other than intraday, I just can't see this dollar strength lasting.
Just my 2c, I guess I'll need change
Mick