Dollar trends

[Mannu]

guys some1 told me that alan greenspan won't b adressing FOMC after 9 aug..is that right??I'm bullish on $ in this week...u'll c euro at 1.2100..golf 421..oil should top at 64.25 oct contract......any views!!!

[mahras]

I dont really create any trading biases. Use price and time. Those are the only two facts you know and all you can really do is react to them. However, I do like to analyze positions. The equity markets are severly getting beaten and I see that as a precursor to the fact that Greeny ol'boy is gonna keep on raising rates. I think the FX markets are just factoring in some irrational ideas that rate increases will stop which I believe wont be true. However, the Brits may increase rates after the red hot news hitting the market monday this week. This may lead to a decrease in the spreads in which the markets will really decide whether they view GBP rate increase more importantly than US ones. Its a dynamic environment where you must shift your positions at all times to be agile, flexible, and importantly profitable.

[michlou]

Originally Posted by Mannu

guys some1 told me that alan greenspan won't b adressing FOMC after 9 aug..is that right??I'm bullish on $ in this week...u'll c euro at 1.2100..golf 421..oil should top at 64.25 oct contract......any views!!!

I have not heard this nor does that seem like something Greenspan would do. His term is up in January and he will certainly make his presence known and felt until that day.

[Mannu]

Yes I agree,btw did u guys followed my views on crude...xact high it made before fall...........

[mahras]

Intraday yes it did. However based upon the trend who knows where it will stop. Trading is all about reaction. One can predict but must be flexible enough to react to movement.