forex daily commentary

British Pound Sterling going to parity with US Dollar?

Could The British Pound Sterling Fall Below Parity With The US Dollar?

Looking at monthly forex charts it seems either one of two things is going to happen over the next year or so: either the dollar's going to collapse – or we're in for one hell of a monster dollar rally.


Every currency's at multi-decade highs against the US dollar: cad, yen, swissie, pound, aussie, kiwi – everything. Can they go even higher? They're all at or near 15-year-old support (or resistance, as the case may be, currencies being quoted in various ways as they are) lines.

Here's a current GBPUSD monthly chart (click  for bigger image in new window):

british pound headed to parity against dollar?

 

A pound costs around a buck-sixty right now. If that big ol' triangle is broken to the downside, the target is 6000 (SIX THOUSAND) pips lower.

 

Which, if you're trading leveraged forex, could be as much as $58,000 per lot.

PER LOT.

And it would make a pound cost less than a buck! Dirt cheap.

If on the other hand it breaks to the upside, a pound'll cost around $2.20 – cheaper than a gallon of gas, but still…

Anyway, looks like the triangle may break around March or April '11.

And remember, this is not financial advice, it's just our uninformed unskooled opinion. For advice of any kind, consult a pro, not us!

Tags: British, Charts, commodities, currencies, Dollar, Forecasts, Forex, GBP/USD, Pound, Predictions, uk

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It is an elusive task to find for the perfect forex forecast software. It appears every manufacturer of forex robot software boasts its own version, advances its own model, claiming it is more superior to the rest. To be objective, however, some of these products would prove better than others. This is the beauty of competition. Indeed, the battleground for market share has been opened and producers vie for supremacy. On the part of the consumers, there are few simple things to bear in mind in selecting the forex robot that’s best for them.

One problem faced by people in search of these forex robots is that they are not exactly sure of what they are looking for and where to look for it. Their sight is clouded with uncertainties and skepticism. Truly, the forex market is a maze, anyone can get lost instantly. It is one of the most intriguing markets to trade in because of its volatility and liquidity. The forex market trades currency back and forth in tremendous quantities and with a speed as fast as light. It provides an avenue for unlimited profits. On the downside, however, the market could be a beast devouring even your leanest capital. It is for the same reason of volatility and liquidity that the market has gained a lot of interest to investors. For some investors, finding the perfect forex robot forecast software can be a tool to really revere the forex market or for wishing they haven’t made the encounter in the first place.

So, is this software free? How much does it cost? These are the first few questions of aspiring investors. There is no such thing as free lunch as we use to say. This is certainly true to most things, including forex forecast software. Free software is usually dubious; it will not tell you exactly what else you need to fully operate your system. Some software usually comes in a package, a few small services which are free of charge, but legitimate software providers would charge something for the whole thing. Now, if you are too hesitant to depart with your money, look for software providers giving free demo at the very least. Many software companies offer free demo so customers have all the chances of weighing their options. As for cost, the range is 500 to 10,000 bucks.

Very crucial thing to consider when planning to acquire a forex robot forecast software is that you must have access to market quotes, real time and instantaneously. This is the key to being successful in the market, to be able to track the ask and the bid prices as well as done transactions as of a certain point in time. These movements in the market must be captured and relayed by the software at the very moment they happen. It must be acknowledged that exchange rates can dramatically change so quickly. Without the capacity for live stream quotes will get you completely lost in the maze.

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Tuesday, August 10th, 2010 forex daily commentary No Comments

Dollar Marks its Biggest Jump in Two Weeks, Though the Bear Trend is Still Intact Ahead of the Fed Decision

The Dollar Index notched its largest single-day advance since July 22nd. That being said, this advance for the single currency did not develop from any specific fundamental catalyst nor did it conform to risk appetite trends (indeed, US equities were well in the green).

View full post on DailyFX – Daily Briefings


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Monday, August 9th, 2010 forex daily commentary No Comments

Euro, British Pound Lose Ground as U.S. Dollar Rallies Across the Board

The Euro pared the advance from the previous week and slipped to a low of 1.3257 during the overnight trade, and the near-term rally appears to be tapering off as the daily RSI falls back from overbought territory.

View full post on DailyFX – Daily Briefings


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Monday, August 9th, 2010 forex daily commentary No Comments

Forex Markets Mark Time After US Jobs Report Yields Mixed Reaction

Forex markets were locked in uneasy consolidation in overnight trade as traders digested Friday’s mixed reaction to the US jobs report, with little ahead between now and Tuesday’s FOMC announcement to offer greater clarity.

View full post on DailyFX – Daily Briefings


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Monday, August 9th, 2010 forex daily commentary No Comments
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