Since the blogger friends pass me the ball, and the topic is certainly of interest to me propose a cross analysis of the euro / Swiss franc.
premise that I've never worked on this cross and is the second time I see his chart, the first ever for an analysis of readers for friends, then call for caution twice.
first we make a quick basic idea.
Surely we shall have the Swiss currency devaluation (of course, always to a certain point), it helps in considerable input of foreign capital.
Secondly, recently the President of the Swiss central bank Roth has spoken in reference to the relationship euro Swiss franc, and claimed to be very careful in this report, for concern about inflation caused by currency weakness.
For now Roth will not intervene in support, but made it clear that in the absence of Alternat the SNB will take steps to slow the descent.
said that we can say that the euro is retracing and is mildly weakening ... but we talk about a weakening of its physiologic market, in fact, European data continue to be positive and encourage the long-term trend of strengthening of the currency.
say then it seems that the cross should be (as it is doing) a physiological transfer, but for the long term we still see signs of good bull.
for warriors comes to us:
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WARSAW, May 30 (Reuters) - Prime Minister Romano Prodi did not rule out that at the next G8 summit to be held shortly in Germany to address the problem of overvaluation of the euro.
"I do not exclude that it also speaks of this topic. There is a concern shared by many countries on the revaluation of the euro against other moente," Prodi said in Warsaw during a press conference.
"The agenda of the G8 is usually free, the benefit of the G8 is to have cards and a predetermined number of topics that could be deployed," he added.
------------------------------------------------- -----------In the graph we can see how it was broken the support of the short term, this leads us to think of a test of the moving average in red. In all other devices. Important area 1.63xx!
Good trading and stop loss at hand.
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