2006-07-11 01:01:58 · 3 answers · asked by miztenasty 2 in Business & Finance ➔ Investing
Yes indeed, a Double Top on the EUR/USD.
Throws a little cold water on the theory "USD weakness through the summer," doesn't it?
It ran right up to the .618 retracement of the decline, then backed off to the 50% level. Sort of running in place now, back and forth, trying to figure out which way to go.
Oh, hi, miztenasty, didn't realize that was you.
The hot pair today was the USD/CAD. When the Bank of Canada decided not to raise interest rates and made the announcement at 9:00 AM, the pair broke out of a 300 pip trading range for a fundamental shift in direction.
Since this morning, there has been USD weakness across the board, but the CAD is just laying there, confirming the breakout so far.
2006-07-11 08:08:15 · answer #1 · answered by dredude52 6 · 0⤊ 2⤋
But it looks like Japan is about to abandon their ZIRP, and could very well kill the yen carry trade.
2006-07-11 10:04:53 · answer #2 · answered by 4XTrader 5 · 0⤊ 0⤋
more return in the pound. more drastic swings
2006-07-11 09:00:37 · answer #3 · answered by fecundy1 2 · 0⤊ 0⤋