And life goes on…
Fitch Ratings warned on Wednesday that it could downgrade the UK in the next few years if the government does not contain the level of public debt.
via BBC News – UK warned again about possible credit rating downgrade.
UBS seems very adamant about the weak EUR/USD, but it appears to hold above 1.3000 comfortably.
In the opinion of M.Mohi-uddin, Director of Foreign Exchange Strategy at UBS, hopes of a more hawkish approach of the central bank due to the increasing oil prices have not been materialized and he also added that the likeliness of further rate cuts should the recent LTROs does not echo in a solid credit growth in the euro zone could grow bigger.
The analyst mentioned another reasons supporting his bearish vision for the bloc currency: the debt crisis in the euro zone is far from over – despite the outcome in the Greek front – with Portugal and Spain sustainability likely to be put to the test in the upcoming months
via Forex Flash: EUR is likely to weaken further in the near term – UBS – NASDAQ.com.
“He knew very well that the euro would lose value as soon as the national bank stopped its intervention,” Blocher said. When the audit was published on Wednesday, Danthine said he had never used privileged information for his personal benefit and that the trade was the result of his desire to remove all bank shares from his portfolio upon joining the central bank.
So when is he going to tell me they are going to make EUR/CHF 1.25 the absolute floor? I have my private hotline all set up just to wait for his call. I don’t want to miss the boat, you know.
via Pressure mounts on SNBs Danthine over forex trade – chicagotribune.com.
The analyst expects the euro to remain well offered in the medium term as the additional liquidity in the system could prompt banks to wrap-up positions in foreign assets in detriment of the euro. “This will push EUR/USD down to 1.25 over the next few months and 1.15 over the next twelve months in our view”, he concluded.
via Forex Flash: EUR/USD could retreat to 1.15 in the end of the year – UBS – NASDAQ.com.
Although the author is using stocks to illustrate how to find and confirm trading opportunities in different time frames, the same theory still applies to Forex.
Most importantly, I love the author’s trading style + strategy because he makes it simple. You only need 3 things to trade. Risk/award ratio, 5-MA, and ‘his favorite’ candlestick ‘Hammer’ bar.
