Friday, August 3, 2018

The big trick around the pound sterling, gold and currency basket against the dollar .. Read carefully before getting involved


The British Pound saw a sharp decline followed by a hike in interest rates. The remarks made by the Bank of England Governor Friday morning to the BBC
But what we see is not only part of the picture and somehow it is a very deceptive part as we will elaborate


As for the pound, we are dealing with a pound sterling loaded with bricyclettes with extreme rigidity, and it is loaded every day with more burdens resulting from news that is not digested or misunderstood. For example, Carney did not add a new one this morning. Stressed the ability of British banks to absorb the exit even if it is harsh

But part of the decline is due to the psychological factor of speculators involved in large deals and did not bear the initial understanding of the statements

And another part of the electronic trading methods where trading robots start to close, open or enter Hedge transactions according to the dry data only, which creates a trend that affects the movement of the market and shows small insignia such as the minute and a quarter minutes

Dollar is also priced higher than its value and return to the state of its economy in the labor sense literally hurts many people deal with it even on the dollar index we are in place below the levels of the 100 magical and needed by the dollar to push gold down below the critical 1150 levels

As well as pushing the euro to the levels of the Greek crisis
But the dollar looks to it as strong and gains while it is down 100

Within the currency basket, we should not forget that the Chinese yuan, which is part of the global basket, is a centrally controlled currency that is reduced to meet the Trump tariff, creating chaos in the markets.

Gold, which should be seen with much accuracy within important levels on the one hand it indicates that the euro within a strong range where the euro managed to push the gold to drop compared to the low levels of 1180

Despite the strength of the dollar, gold did not collapse, although there is a case of disposing of holdings in favor of building centers on the indices and stocks according to the view that it has retreated to improve the jump is the hypothesis that may be tested catastrophic at any moment and time will be abandoned holdings of stocks and indicators and the seizure of gold It will push it to 1500 levels in a matter of moments

Those points were found to be better placed before traders get caught up in unjustified closures or adverse trades

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