Scenarios for August 8

Thought I'd start this thread so we can all discuss what we expect to happen on the 8th.

Will it be a pause or a raise? How do you think the market will react? Some people are saying that given the move last friday, a pause may already be priced in. Others have opined that Friday's move was just a precursor to what could happen if and when the Fed does announce a pause. So, what do you guys think?

My opinion: EURUSD and USDCHF have yet to hit new yearly highs and lows respectively. Only GBPUSD has done that and a primary driver behind it is the surprise rate hike from the BOE. So i think we still have some room to move up.

natgo, I agree more upward movement is possible. My only concern is that we are approaching some prevoius resistance on pound, would definately wait for pullback now, it is possible that they might raise rates 1 more time for august who knows for sure...

In my opinion, The GBP will run up after breaking resistance at 1.9000 this friday & soon will follow the EUR....Technically, the GBP is much stronger from the chart prespective than the chart of the EUR...So until the EUR breaks the 1.3000 mark, the chart remains weak....My opinion is that we are going to see the 1.3000 broken very soon...

Just remember what Warren Buffet said regarding the GBP & the USD a year & a half ago....He said that he is very GBP bullish & USD bearish....


Thanks,

Nader

thank you Nader for your insight. here hoping everyone will get the pips.....