FOREIGN CURRENCY TRADING

Administrator — Sun, 07 Aug 2011 09:01:56 +0000

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THE EURO/USD WEEK OF JAN 22nd 2012

The euro saw a low of 1.2626 and a high of 1.2985 last week. The parrotster was expecting the euro to fail in and around the trendline ! 1.2870 but i guess will have to wait to see what transpires this week with the talks over the Greek crisis. Some agreement will likely be reached but the market response is what matters regarding the value of rhe euro.

In spite of the euro’s bounce last week, the parrotster is still bearish on the euro and expects to see it dip back to the 1.24-1.2450 level.

THE EURO/USD WEEK OF JAN 15TH 2012

The euro failed @1.2870 this week right at the trendline and the 2011 low. It closed the week at 1.2677 amid rumours of credit rating downgrades by S&P.

The news became official after the close of the markets. In a nutshell S&P downgraded the sovereign credit ratings of nine of the euro area’s 17 members.S&P lowered the ratings of France and Austria one level to AA+, with “negative” outlooks, and Italy, Portugal, Spain and Cyprus by two notches ,and Malta, Slovakia and Slovenia by one notch. The concern over the euro is that the euro zone’s response and policies are unequal to the crisis which is expected to worsen. The rumours of the downgrades have been circulating for months and some say
that they have already been factored in and will not affect the euro zone’s ability to meet its obligations to the debt crisis. (read more…)

THE GBP/USD WEEK OF JAN 22nd 2012

The pound saw a low of 1.5291 and a high of 1.5576 this past week. The pound still looks to be capped at 1.57 and the parrotster is still bearish on the pound.

THE GBP/USD JAN 15TH,2012, ABOUT THE GBP’S YEARLONG SUPPORT @1.5350-1.54

Will te GBP fall to 1.50? *…read more)

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FOREIGN CURRENCY TRADING