There is really not much fundamental supporting a move north. Now that the effect of the surprised 50 bp cut is over, traders are now discussing the possibility of a recession. A rate cut doesn't mean anything if it doesn't help the US economy much. To keep long story short, we might see 228.50 by Friday and next week we will be trading below 228.50.
- #29,482
- Sep 19, 2007 2:50pm Sep 19, 2007 2:50pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #29,484
- Sep 19, 2007 2:52pm Sep 19, 2007 2:52pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #29,486
- Sep 19, 2007 2:52pm Sep 19, 2007 2:52pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #29,489
- Sep 19, 2007 2:54pm Sep 19, 2007 2:54pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #29,490
- Sep 19, 2007 2:55pm Sep 19, 2007 2:55pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #29,491
- Sep 19, 2007 2:56pm Sep 19, 2007 2:56pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #29,493
- Sep 19, 2007 2:58pm Sep 19, 2007 2:58pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #29,498
- Sep 19, 2007 3:07pm Sep 19, 2007 3:07pm
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts