22nd June 2012 05.45 GMT clock
The resumption of aggressive risk from Thursday's price action was understandable. After all, this is very good news for investors to hold. In fact, the rally in risk assets in recent weeks about the pricing of the scene that the maximum realization of true positive developments. Curiously, it is our belief that more control of risk in the trade, which was since the beginning of June to see, could continue.
While recognizing the state of the global economy is far from rosy, were increasingly convinced that the crisis as a whole (commitment to support the economy at all costs because of aggressive forms of monetary stimulus and budget), a seemingly unlimited governmental proponomics could actually help us overcome the crisis, without any great disadvantage. See the U.S. economy. This was the first economy of the global recession, but the strong commitment of the U.S. government and Federal Reserve to inject liquidity into the system seems to work even enter. Investor confidence was well supported as the performance of U.S. equities occupied, while the actual economic data are signs of improvement.
Many other countries have adopted a similar approach, and this strategy has spread like wildfire, with a commitment to support coordinated the global economy at all costs. It can be a confirmation of this fact better than the recent G20 meeting, which was very explicit on the subject. For now, the real trick to a leadership role in Europe will fall into line and get up to the plate. In our opinion, Europe has not been so aggressive with this approach, as it should, and all that is needed is a formal plan to address the crisis in the head. However, a leading presence in the region failed, and the Achilles heel of the region is that we are not compatible with a country. However, we argue that at least in the short term, this curve, where the ball, when markets are in a good way for European leadership was surprised to be able to really accelerate in the last minute.
The next EU summit will be very important, and we expect a result that surprised the market and provide a new understanding of trust in the region. On the other hand, is quite common for me to take an optimistic view. Many of you know, I was very bearish and pessimistic in recent years. But now that everyone wonders about the collapse of the euro, it is logical to expect a rally. I feel refreshed after two portfolio managers in television yesterday calling for more aggressive acceleration, and low in the euro area immediately.
Trading Markets is one of the most difficult challenges, such as the use of the market in a sense, all the weaknesses of each operator in one form or another to find. And with any and all queuing up to an additional risk compromise, I think this might be a bit of a surprise.
My opinion is that we will soon see the opening of a very aggressive plan of state and government of the euro area, which is finally taken by investors and open the door to an aggressive round of trade negotiations in the risk next few days. Maybe then I'll fade into the path of darkness and look back for a chance to rally. For me, a movement in the euro area seems logical to 1.3000, and then I was happy to sell aggressively.
TECHNICAL OUTLOOK
EUR / USD: While our overall picture remains very pessimistic, so it is possible to short-term upside, before a new record is requested below. Despite the recent decline, the market still looks short-term constructive above 1.2440. A closer look on the weekly chart also shows the couple begins another week of high and low peak. However, a break above 1.2750 again is needed now to accelerate gains. Below 1.2440 negates.
USD / JPY: Some very constructive price action in recent market sessions with the cleaning of some critical short-term resistance of 79.80, then break the psychological barrier of 80.00 again. This now opens the door to a possible medium-term higher low back instead of 77.65 before the extension to the next big time and peak in 2012 of 84.20.
GBP / USD: Despite some upward correction intraday setbacks since the beginning of June is still alive, and we still see room for additional header to 1.5780 and 1.6000 in the coming days. Ultimately, any further decline is expected to be well supported around 1.5500, while only back under 1.5450 would threaten vision.
USD / CHF: Even if we get a larger bullish on this pair, with the market, setting back to parity in the coming weeks, it seems that there is room for further short-term declines , while the lowest level since the peak market trends early June Ultimately, a break above 0.9660 is needed to return to end the current bear market and opens the door for recovery upward further. Until then, the risk of a deep decline towards 0.9200 to 0.9300 range.
The resumption of aggressive risk from Thursday's price action was understandable. After all, this is very good news for investors to hold. In fact, the rally in risk assets in recent weeks about the pricing of the scene that the maximum realization of true positive developments. Curiously, it is our belief that more control of risk in the trade, which was since the beginning of June to see, could continue.
While recognizing the state of the global economy is far from rosy, were increasingly convinced that the crisis as a whole (commitment to support the economy at all costs because of aggressive forms of monetary stimulus and budget), a seemingly unlimited governmental proponomics could actually help us overcome the crisis, without any great disadvantage. See the U.S. economy. This was the first economy of the global recession, but the strong commitment of the U.S. government and Federal Reserve to inject liquidity into the system seems to work even enter. Investor confidence was well supported as the performance of U.S. equities occupied, while the actual economic data are signs of improvement.
Many other countries have adopted a similar approach, and this strategy has spread like wildfire, with a commitment to support coordinated the global economy at all costs. It can be a confirmation of this fact better than the recent G20 meeting, which was very explicit on the subject. For now, the real trick to a leadership role in Europe will fall into line and get up to the plate. In our opinion, Europe has not been so aggressive with this approach, as it should, and all that is needed is a formal plan to address the crisis in the head. However, a leading presence in the region failed, and the Achilles heel of the region is that we are not compatible with a country. However, we argue that at least in the short term, this curve, where the ball, when markets are in a good way for European leadership was surprised to be able to really accelerate in the last minute.
The next EU summit will be very important, and we expect a result that surprised the market and provide a new understanding of trust in the region. On the other hand, is quite common for me to take an optimistic view. Many of you know, I was very bearish and pessimistic in recent years. But now that everyone wonders about the collapse of the euro, it is logical to expect a rally. I feel refreshed after two portfolio managers in television yesterday calling for more aggressive acceleration, and low in the euro area immediately.
Trading Markets is one of the most difficult challenges, such as the use of the market in a sense, all the weaknesses of each operator in one form or another to find. And with any and all queuing up to an additional risk compromise, I think this might be a bit of a surprise.
My opinion is that we will soon see the opening of a very aggressive plan of state and government of the euro area, which is finally taken by investors and open the door to an aggressive round of trade negotiations in the risk next few days. Maybe then I'll fade into the path of darkness and look back for a chance to rally. For me, a movement in the euro area seems logical to 1.3000, and then I was happy to sell aggressively.
TECHNICAL OUTLOOK
EUR / USD: While our overall picture remains very pessimistic, so it is possible to short-term upside, before a new record is requested below. Despite the recent decline, the market still looks short-term constructive above 1.2440. A closer look on the weekly chart also shows the couple begins another week of high and low peak. However, a break above 1.2750 again is needed now to accelerate gains. Below 1.2440 negates.
USD / JPY: Some very constructive price action in recent market sessions with the cleaning of some critical short-term resistance of 79.80, then break the psychological barrier of 80.00 again. This now opens the door to a possible medium-term higher low back instead of 77.65 before the extension to the next big time and peak in 2012 of 84.20.
GBP / USD: Despite some upward correction intraday setbacks since the beginning of June is still alive, and we still see room for additional header to 1.5780 and 1.6000 in the coming days. Ultimately, any further decline is expected to be well supported around 1.5500, while only back under 1.5450 would threaten vision.
USD / CHF: Even if we get a larger bullish on this pair, with the market, setting back to parity in the coming weeks, it seems that there is room for further short-term declines , while the lowest level since the peak market trends early June Ultimately, a break above 0.9660 is needed to return to end the current bear market and opens the door for recovery upward further. Until then, the risk of a deep decline towards 0.9200 to 0.9300 range.
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