31st July 2013
EUROLYTICS
The Euro has had a relatively quiet trading period as investors look to take profits and limit their exposure prior to the ECB rate decision on Thursday and the Nonfarm Payrolls on Friday. The continued problems that keep raising their ugly head, in the forms of Portugal, Greece and Cyprus are somewhat infuriating as investors try and play the fundamentals against a Draghi. The ECB president manages to dampen any threat by continually insisting he will “do whatever it takes.” When will this not be enough? When will politicians and their electorates say, no more!
The Euro rally might be due to end of month hedge reconciliations and repatriation of Euros from dollar denominated holdings but I fail to see how it can maintain its current course.
The technical’s show a head and shoulder pattern forming and this generally indicates a reversal pattern. The reversal is most reliable when the market is in an uptrend and this is looking to be a perfect set up for a down move, but with Draghi out there who knows.
因投资者获利了结,且在周四的欧洲央行利率决议和周五的非农前处于观望状态,欧元这段时间的交易相对平静。因投资者尝试着在基本面方面对抗德拉吉言论的影响,持续性的问题继续影响市场,例如葡萄牙、希腊和塞浦路斯的问题让人气恼。欧洲央行行长坚持不断的表态,表示他将“采取一切措施”来阻止任何威胁。这些做得还不够吗?政治家和选民会说什么呢,什么都不会再说了!
欧元上涨可能是由于月底的对冲对账及人们将以美元计价的资产换成欧元,但是我不知道欧元应该怎样来保持目前的状况。
技术指标显示一个头肩顶形态已经形成,这通常表示行情会逆转。当市场上行时,逆转是很有可能的,这可以看做一个看跌的完美设置,但是考虑到德拉吉的讲话,谁知道呢。