|
GBPCHF Daily Forex Analysis: Expecting A Bounce From Here |
|
Wednesday, 10 March 2010 22:04 |
|
Three days of steady progress to the bottom side for the pair creates the likelihood that a  Bounce will be seen. Initially the bounce will only be to about 1.6050, the center line and tomorrows pivot point. Secondarily the top channel line may be touched. I doubt that it goes much higher than that. There is concern now that London is in the same fix that Greece is in. They deny it strongly but there is little doubt in market participants minds.
The GBO route that started mid January and has continued with little pull back is due for a correction. Whenever I start thinking that I have to remind myself that it doesn't have to correct. I always look to the USD route in 2008 to remind me of that. However I am in the mindset that fading rallies will be the game in the near future. The top line of the channel might be a good spot to do that from. I have opened a small GBPUSD long to take advantage of the possible GBP strength in coming days, because I think it has a bit further to go. I think that pair may touch 1.5050 by week’s end.
On the GBPCHF though I still don't have a reason to get to aggressive with anything and will be on the sideline for now. I know, it’s boring not to trade, but I would rather have a setup I like than one I have to fight.
|
|
|
Written by Administrator
|
|
Tuesday, 09 March 2010 23:45 |
|
I got so mad when I read that Papandreou likened naked swaps to buying insurance on your neighbor’s house, because you then have an interest in seeing it burn down. I see it completely different. I would love to take out insurance on my neighbor’s house when I know they are going to burn it down themselves. The budget shortfall is Greece’s fault; it’s their fault they spend like children in a candy store. THEY ARE BURNING DOWN THEIR OWN HOUSE. Of course I'll take out insurance on it. Idiots!
At all of the press conferences that are being help by Greek authorities who complain about investors, the media remains too scared to ask them whose fault it is that they spent way more then they took in.They are dead last in a ranking by Transparnecy International as having the least corrupt government for EU. Italy's organized crime ranks three places above them, with two non EU countries in between them.
I don't even know what else to say other than I am completely disgusted.
"You see, we're just the vicitim here, we did nothing wrong, it was investors that did us in" |
|
Last Updated on Wednesday, 10 March 2010 00:11 |
|
|
|
