Where the Dollar is headed?

[sean]

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

 

[nautilus]

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

 

[[email protected]]

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]

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

 

[nautilus]

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

 

[sudoku1]

USDINR hits life time high at 57.95

 

[timepass]

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

 

[Mrspurvipanchal]

I guess it all depends on whether the Federal Reserve will go forth with tapering their Bond Buy back program or not. I think the market has been expecting them to slow it as hinted by Bernake recently. But this week will be the moment of truth

 

[ashu1234]

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.

 

[Mubs90]

I think the USD did take a minor hit in mid last year but it is slowly creeping back up. http://www.quandl.com/QUANDL-Quandl/USDEUR-Currency-Exchange-Rates-USD-vs-EUR. I personally still believe that USD is a safe investment. Despite some setbacks they recover. They are the largest economy still and the hub of many major corporate players.