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发表于 2010-12-13 08:34:50
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shanghai bc 23:49 GMT February 21, 2004 Reply
RC 18:09 -- Good morning..I believe that Dollar's rising fortune against all others started its mega-reversal on 15/8/1971 when Nixon removed Golden Standard and since then,it has been all down hill skiing with some bounces in the middle..And in a big picture for the next decades,Dollar may have much more downside beyond our imagination at the present moment..Of course,the above view cannot be used by most in the market for trading purpose for obvious reasons..
The present round of Dollar slide since 2001 has ben the result of Usd assets bubble burst..Recent stimulus to speed up the slide was provided by "Weak-Dollar-Policy" from big-spenders,Bush team..In all probability,we have not seen the floor of this Dollar slide since 2001 before its is reversed and medium-term bounce starts..
The present Dollar mini-bounce is just a distribution excercise by some large traders when the market's liquidity is plenty with high fever..We had good distributions on the way up to Eur/Usd 1.00 and 1.10 and 1.20 all taking some 4-12 weeks covering some 500-1500 pips in each case..Market,forex or otherwise,is all about liquidity and distribution and accumulation dances are as natural as Sun rise and Sun set..We were heading for 1.30 in mid-Jan and we started much needed distribution excercise starting there and we are still in the middle of that excercise which may take another 4-8 weeks covering some 1000 pips from 1.29 line..All these strange explanations on Dollar bounce is nothing but amateurs' reading of the market with no access to the true workings of the market..Imho.. |
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