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Thread: This one's easy

  1. #1
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    Default This one's easy

    Many countries in the world need a strong dollar and in many ways their own currency weaker.

    The reason is that the US is the worlds largest importer and will drive economic recovery globally.

    Australia is so aware of this that their central bankers have come right out and said that they are going to begin pushing AUDUSD lower starting today.

    This cross has (relatively speaking) lower volume which means it's much easier for a central bank to control the currency values.

    Short Entry at .6835
    TP at .6730
    SL at .6885

    This signal may not really "fire" until tomorrow.

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    Default

    That's true but the dollar seems to be deteriorating at a rate faster than ever before.

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    Default

    Quote Originally Posted by FXexpert View Post
    That's true but the dollar seems to be deteriorating at a rate faster than ever before.
    This is not really accurate. There was ONE DAY, when the dollar had its worst day in something like 28 years. That was (un)coincidentally the same day that Bernanke said he was going to have the Fed print 1.2 trillion in new money to spur the economy and ease credit markets.

    That amounted to a sudden and somewhat massive shift in the supply/demand equation which caused the spike.

    But take a look, AUDUSD has been falling for the last 40 consecutive hours.

    I do anticipate some consolidation will start today that will result in a bit of a bounce, probably not occurring till sometime mid European session. However, tomorrow the downtrend will likely resume.

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    Default

    Atleast, against Pakistan Rupees, dollar is gaining beyond measures, it was USD/PKR 60 a month ago, now it is USD/PKR 80

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    Default

    Yes but Pakistan is a failing nation, the economy is in serious trouble & the government can't hold it together, their currency is going to depreciate.

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