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Test of currency markers, as Central Banks gear up
Tue Dec16 (NY) - by Anatoly Veltman, Chief Global Analyst - The following pairs are testing interesting short-term speculative milestones in front of the historic FOMC announcement: EUR/USD retraced 38.2% of its fall from record 1.6040 -> 1.2335. DXC retraced 38.2% of its H2 2008 advance 71.31 -> 88.46. USD/CHF is breaking trendline drawn thru 7/15 and 9/22 extremes. EUR/CHF retraced 62% of 1.6828 -> 1.4300 12-month drop. EUR/GBP is at 0.9020 record double-top. Feb Gold retraced 62% of Q4 2008 938.8 -> 688 drop. US Treasury yields are at record lows from 2-y to 30-y. So while there is a miriad of qualitative considerations: to include unprecedented world-wide credit sqeeze, government and crook interferences, holiday "silly season" and year-end repatriation - we are about to assess the veracity of certain quantitative speculators . . . (to read the remainder of this article, please log in below.)
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