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To All;
Just off the wires, the G7 has implemented a plan for all Banks in their economies to reveal their losses within 100 days. They have also put pressure on China to re-evaluate the Yuan. I have read in recent weeks and days that All Global currencies have had injections on millions & billions of dollars to provide liquidity for their currencies. Where is this money coming from?
ForexSaviour just posted new laws for Forex for Swiss. It seems that everything in all economies are not well because of Banks NOT revealing their losses. They must be hiding something!
And the reason for for the losses are not only from Housing, Politics, etc.
My view is that unlike Forex traders, the Banks have been caught on the wrong side of the trade and over leveraged. Huge losses.
The U.S., Australia, U K , EEC, have injected millions for liquidity for their currencies, and Forex traders eat the millions up. Banks are still in trouble.
Trichet said 2 weeks ago that the Euro is where he wanted his currency to be against the Dollar. 2 hours later, his Chief Financial advisor resigned.
To me, this indicates that All is not well, even for the Euro.
What might this do to Global currencies in the near future? How might it effect Forex traders.
Somehow, I don't believe that the G7 decree is the road to honesty.
Thoughts?
__________________
Not Everything that looks straight is: Until you measure it.
I moved your post to this thread where you can find many links to free signal service existing during the many years, or some forecasting (free as well).
If we were to get another inside bar on Monday, too, then it would portend a very strong upcoming move. Whether up or down is anyone's guess.
However, I have OVERBOUGHT on the TCCI on every chart from the H1, H4, D1 to the Wkly chart. Therefore, I would suggest a sell. Just wait and see is smarter still. However, I am demoing a sell just for fun.
No clear signal just yet.
COTtrader
Quote:
Originally Posted by reddog
Any guesses on what the eur/usd will do by monday? Up or Down?
G7 gives banks 100 days to start revealing losses
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