Forex Trading Weekly Forecast - 01.30.2012
- US Dollar a Natural Short but also a Fundamentally Loaded Currency
- Euro Takes out Highs, Aims for $1.35 – Does Rally Have Staying Power?
The Commitment of Traders show an increase in net EURO short position.
In for another squeeze higher next week? The change WoW was +10%.
Lagarde says this time bailout to Greece will require deliverable fiscal adjustments
- She adds the Greek program requires significant PSI.
EURUSD moves toward 38.2% retracement. Topside trendline also getting closer
The EURUSD is approaching some upside targets for the pair. The first is the underside of the trendline on the hourly chart above. That level comes in at the 1.3222 level currently. The next would be the 38.2% of the move down from the October 27th high. That level comes in at the 1.32429 level. Finally, the top channel trendline on the daily at the 1.3252 is also approaching.
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FOREX MARKET
Markets are going to remain nervous for some more time as S&P ratings agency punished nine eurozone countries with downgrades and to striped France and Austria of their triple-A ratings. Even though S&P said that Germanys rating is in excellent condition, the downgrading is likely to have direct consequences for country. EUR/USD had fallen sharply after the statement. FOREX MARKET investors should be cautious as the bad news will have more impact on the financial markets.
Forex Article F.E.A.R
