Thirteen/Johnny40 -
Could you please briefly explain, to a relative newcomer to FX, what steps the US FedRes? could take to stave off further dollar weakness? Are all these steps temporary measures? Can such intervention overcome fundamentals in the longer term?
I was watching the EUR/USD very careful y'day - once the market pushed above the 1.2935 level I imagined that it would be run up to the big 1.3 level - this was my entry - unfortunately at the exact moment I tried to sell the Fins EUR/USD market went down!! Coincidence??
Will there be another test in the short-term? Will the price fall back into the consolidation below 1.28. .. . are the fundamental reasons for future dollar weakness still as pressing (data y'day showed slightly improved trade gap etc)
Not naive enough to expect answers but any comment much appreciated. .
