The bank’s recommendations

Forexmentor.com Forex Trading Price Action

According to the Danish Yske Bank, they expect the USD, CHF, and JPY to strengthen, and theAUD, NZD, CAD, and in part EUR to weaken. They recommend to sell EUR/USD, USD/JPY,EUR/JPY, EUR/CHF, AUD/USD, NZD/USD, and to buy USD/CAD. Who could have guessed ontheir last recommendation? I’ve been looking for a bottom on that pair for quite some time now.

The bank’s recommendations come on the heels of credit defaults impacting the markets,and traders taking flight from risk – hence, collapsing the carry trade. The markets haven’tseen this kind of nervousness since 9/11. Short rates have increased, with nobody wanting toissue credit, and banks supporting the financial markets with liquidity – this to ensure theirstability. It should be further noted that the Danish Yske Bank is also recommending the EUR/GBP pair as a long hold. Stay tuned for further developments at: http://www.forexmentor.com/

Thanks to Christoph Lahrs for providing the information for this news release.

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