-
Published on Aug 18, 2016
The
Euro rose drastically during the session again on Thursday, breaking
above the 1.1350 level. By doing so, it shows that we have real strength
in this move and it’s only a matter time before we continue to go much
higher, I believe that the first area that we are going to reach towards
will be the 1.14 level above, and then eventually the 1.15 level. Quite
frankly, I am a bit surprised that we have turned around this quickly,
but I also recognize that breaking above the 1.12 level below should be
massively supportive so therefore this is a “buy only” market at this
point in time. I recognize that people are betting on the Federal
Reserve not been able to raise interest rates anytime soon, so that’s
essentially what this is all about.
Published on Aug 18, 2016
The
US dollar initially tried to rally during the course of the day on
Thursday, but turned right back around to form a bit of a shooting star.
The shooting star was preceded by a shooting star on Wednesday as well,
so quite frankly I think we are starting to build up serious pressure
to the downside. However, it to keep in mind that the Bank of Japan
below will be very interested in keeping this market somewhat afloat,
because quite frankly the value of the yen is something that they worry
about as far as exports are concerned. With this, I think if we can
either get a supportive candle, a bounce, or break above the top of the
shooting star from the Thursday session, it’s time to start buying, at
least for the short-term.
No comments:
Post a Comment