Check out the Dollar
Showing some surprising resiliency lately. I have this feeling that after the Fed announcement next week, the dollar may firm up and go back up to the 73-74 level.
Honestly, i’m starting to mentally prepare myself for a dollar bull run. Not a long-term one. But a bull run non the less.
Reason being, if the Fed only cuts by a quarter percent and shows signs of not wanting to cut anymore, traders will buy dollars in droves.
What i’m looking for is a break above the 20-day average. Not just a little ‘baby-break’. I want a manly ’slap-you-in-the-face’ kind of break.
Then, my friends, i’ll be back in the FOREX markets, dipping my feet in slowly to see if i’m right (this time) on this.
I think the dollar is being manipulated by the the Fed/G-7 and there is no real reason for a stronger dollar. The week goes like this-Monday and Tuesday the dollar declines, gold, EU, pound and oil go up. Wed the Fed intervenes usually at .715 or so. Wed and Thurs the dollar and the market go up, then the dollar goes up to .725 or so. Gold,oil etc go down. Fri the G7 pulls back and we start over again. Ho hum- so much for free markets. This market stinks to high heaven and anyone who suckers for this manipulation deserves what they get.
This is a very interesting comment and would make complete sense as to why the dollar hasn’t been able to break under 71.
Do you happen to have some kind of proof? is this all rumor?
I don’t ask that to be a smart ass, i’m just extremely interested in this.
Free market?! hah! Japan intervened god knows how many times. And let’s not forget about the ‘action committee’ which Paulson has already acknowledged.
Either way, again, this is very interesting and i’d love to find out everything you know.
thanks!