Continue from my previous posted on 18-Sep, USD was going strong. As US "QE" to be shutter by end of this month. Where else Europe and Japan continue their stimulus program. With this, we can see that the USD was going strong as compare to most of the currencies out there.
USD/SGD and USD/JPY pairs continue to move north. It is about to the reach the FIBO 261% and 161% respectively.
EUR/USD, it broke FIBO 261%. Will it continue pounding south toward 423%? Possible, but look out as there are couple of enemy sandbags out there between the 261% to 423%. (Refer to chart). As I said forex is sensitive to numbers, political decision and plan............ and if everyone recognise the strength of USD, you better......So we need to watch out on that.
GBP/USD, it has a pulled back, nicely touched important FIBO 61.8% sandbag, could not penetrate through, so it pulled back and continue to move south. Last Friday, it broke FIBO 100%. However, I see a possibility of divergence form. Can they like the others, reach FIBO 161%? Let's go step by step. Divergence form - yes or not? Watch out on this.
USD/SGD and USD/JPY pairs continue to move north. It is about to the reach the FIBO 261% and 161% respectively.
EUR/USD, it broke FIBO 261%. Will it continue pounding south toward 423%? Possible, but look out as there are couple of enemy sandbags out there between the 261% to 423%. (Refer to chart). As I said forex is sensitive to numbers, political decision and plan............ and if everyone recognise the strength of USD, you better......So we need to watch out on that.
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