EURO and GBP made the initial drop and firmed up above initial high and are expected to make slide towards close of Japanese session.AUD came below parity and reversed .USD/CAD came closer to parity and reversed .These pull backs are to continue the strong USD gaining moves in them.AUD is expected to come from multi year high still further down and the statistically estimated level is 0.88 area,and in USD/CAD estimated level is 1.03 area.

USD/CHF and USD/YEN are expected to come off the multi year low very quickly in this and next month - the estimated levels are around 100 in USD/YEN and 1.03 in USD/CHF.These are only calculated levels and the market may show deviation during its action.So use them as reference information only.

During European session initial firming up and then slide may be seen.US session may show swing and drop moves before and after FOMC meet (18:15 GMT).

Trade with care during such multi year trend reversal time frame which may prevail till end of September.

However EURO and GBP are expected to make wide  range swings during this time frame.

Regards

Dr.sivaraman

 

 

Views: 440

Tags: AUD, EURO, GBP, USD/CAD, USD/CHF, USD/YEN

Comment by tradesmart on August 9, 2011 at 7:18am
Sir, what do you look for to identify a balancing act? Does it exihibit distict signs?
Comment by MarlonF on August 9, 2011 at 8:25am
dear Dr, gold seem to be gaining a lot and silver seem to get getting left behind, do we expect silver to catchup and GAIN more or are we looking at a reversal and a SLIDE in silver?
Comment by Anurag on August 9, 2011 at 9:58am
Sir, when you say that reversal may take time upto end of September so it means that chf may take time upto september end to reverse and till that time it may go down.
Comment by NKB on August 9, 2011 at 10:55am

Gold is looking to drop in a big way from tomorrow onwards, once equity market starts consolidating.. gold is making high on 2 reasons, one is fear psychosis and other is traders are short and not yet covered, today looks like short coveing is over, 1773 basis spot is the high volulme zone, if it doenst move above that and doesnt stay above, one can assume we are near top.. Happy and prosperous trading to all

Comment by Rony on August 9, 2011 at 2:23pm
"If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand." 

I seen this on amother site and I had to share it. No wonder S&P downgraded us.
Comment by Vinesh Jagmohan on August 9, 2011 at 3:53pm
Doc what do you expect out of EURO/CHF?
Comment by Gregor on August 9, 2011 at 6:51pm

Dear dr.,

do you think it's better to stay away from chf and jpy for a few months?

Best regards,

G.

 

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