Where the Dollar is headed?

sean

New Member
#1
Hi

Due to what can be termed as an unbelivable rally for the EURO/USD, the dollar has lost more that 300 points in the last few days!Has the downslide really resumed for the greenback or we are stiil in an extended corrective mode?

Regards

Sean
 
#2
Hi Sean:

The market at this moment seems to be in corrective mode and is most likely headed towards 1.27 - 1.2750 area. It would be very interesting to watch what happens at that level - could turn into a good sell level for Euro.

Nautilus
 
#3
Hi

Currency traders here in USA strongly believe that the dollar will become stronger in the coming days. However I can't confirm their conviction, as I do not know what it is based upon. I have not done any TA myself, so it is nothing more than a rumor.

Please use caution.

Good Luck

Wastej
 

AJAY

Active Member
#4
dear Wastej,
firstly i expect everybody in financial markets to be cautious. secondly, you mentioned that you haven't done any TA on the moves. I feel that the longterm look in dollar is still stronger unless it comes below 86.66
technically the broader outlook is more of a sideways for sometime unless there will be clear breakputs which will anyhow be seen on charts.
I always believe that news follows charts.
AJAY
 
#5
FX traders I am going to start posting my views/recommendations on the FX markets in a new thread that I am starting today.

Nautilus
 
#7
USDINR hits life time high at 57.95
That is in the futures (current series). In spot price, it hits life time high of 57.77
 

ashu1234

Well-Known Member
#9
Exactly, this wednesday Fed can give hint or start small amount of tapering. Ultimately trend of depreciation of currencies in emerging economy has started and its a clear cut clue that by this year end the trend will be significant.
 

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