fx weekly commentary aug 7 - aug 13 2011 - elite global trading

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GBPUSD: Coming off last weeks low of 1.6220 up towards 1.6400 to close the week, we see this rally most likely to continu e to start this week with resistan ce at 1.6450,1.6500 and 1.6530. With not much strength from the GBP we see the move up to have little follow through. Recommendation : Neutral, we will wait for rally to slow and hold up around 1.6500. Once we get a revers al to downside confirmation we will look for an entry and a move back down to the 1.6200 - 1.6150 levels. What do the coming months and weeks look like for the currenc y market? After this historic credit downgrade we scramble to understand  the depths of market reac tions for this week  to come. Most likely we will get an initial shock to Markets opening this week. With all  the shifts in economic events around the world most likely the credit downgr ade will fade quickly. EU holds an emergen cy meeting  to buy It alian Bonds, which will most likely boost the EURO. With an extensive look at the worlds economic challenges it makes difficult  to understand the long term outlook for the currency pairs. We suggest to take a short to medium term approach when making your  trading decisions. Look to see this weeks currency outlook. Fundamental Outlook UK Pound Sterling / United States Dollar  Elite Global Trading Forex Weekly Commentary Aug 7th Aug 13th 2011 Volume 1, Issue 14 In this issue: Fundamental GBPUSD 1 EURUSD AUDUSD GBPJPY NZDUSD 2 EURJPY EURCAD EURCHF 3 Event Risk 4 Contact Info Disclaimer 5

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Page 1: FX Weekly Commentary Aug 7 - Aug 13 2011 - Elite Global Trading

8/6/2019 FX Weekly Commentary Aug 7 - Aug 13 2011 - Elite Global Trading

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Page 2: FX Weekly Commentary Aug 7 - Aug 13 2011 - Elite Global Trading

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Page 3: FX Weekly Commentary Aug 7 - Aug 13 2011 - Elite Global Trading

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