Forex Market Commentary
The Greek shadow just never seems to go away.traders are nervous and the EUR/USD slipped to 1.08 today on the edge of a cliff of anxiety. How is the ECB going to carry this Greek burden? 86 billion Europe's is going to little but shore up an already collapsing economy and the ECB is going to continue chase good money after bad for the sake of keeping alive the Euro currency integrity? If anything at all shrewd traders can see this is going to translate into an expansion of the Q.E to accomodate the Greek lifestyle. that's going to mean Bund rates going down and prices up; that's going to add pressure on the Euro and sink the EUR/ USD to the 1.05 mark ever closer to parity.
See again the Bloomberg analyst that points to the EUR/ USD pointing to parity. Although at first the notion seemed a little extreme, in the light of the continuing Greek saga and the ECb footing the bill such an extreme analysis seems to be playing out into reality before our very eyes -
http://www.bloomberg.com/news/videos/2015-07-16/euro-could-be-below-parity-by-end-of-year-gibbs
The main trouble behind this article is based upon what seems to be taking place within the heart of Germany at the moment. Chancellor merkel is coming under increasing pressure from within her own political part and government as to rationalize why Germany must continue to assist what is evidently becomingna European 'failed' state? if Germany is uncertain that does not inspire currency traders hence the rationale for the article for parity.
Read here on Bloomberg the troubles brewing in Germany -
http://www.bloomberg.com/news/articles/2015-07-16/germany-offers-verdict-on-greek-aid-after-draghi-backing
http://www.bloomberg.com/news/articles/2015-07-17/how-china-s-slowdown-is-worse-than-you-think
Crude oil is range bound lower 50's and bullion continues below the 1150 mark today with more lack of interest in flight to safety.
Always look to support and resistance band lines as the key to understanding in the long and short term where prices are converging. Professional technical traders use 50 day and 200 day medium and slow moving averages as fundamental cornerstones for interpreting the direction of price action.
USDX
US Dollar
97.523 -0.138 -0.18%
97.523 -0.138 -0.18%
Support 95.653 Resistance 98.343
Forward 1 year - 95.943. Low growth positive line.
Forward 1 year - 95.943. Low growth positive line.
EUR
1.08930 +0.00035 +0.03%
1.08930 +0.00035 +0.03%
Support 1.07430 Resistance 1.13030
Forward 1 year - 1.13770. Low growth positive line
Crude Oil
51.30 +0.06 +0.12%
Support 50.32 Resistance 54.78
Forward 1 year - 61.31. Low growth positive line.
Forward 1 year - 61.31. Low growth positive line.
Gold
1144.595 +0.135 +0.01%
Support 1,140.5 Resistance 1,164.3
Forward 1 year - 1,186.2 Low growth line.
Pieter Bergli - DeLoren Trust Holdings
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Forex market commentaries and media reports for free
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Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
Pieter Bergli - DeLoren Trust Holdings
A non-profit commitment to provide education on the properties of currency markets
Forex market commentaries and media reports for free
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
