Currency market: Biden and closing prices
As Biden continues where America's bummner Obama leftoff in 2016 to advance a bankrupt agendaunder obstinate false ideals, the road ahead for America will be fraught with massive spending in thename of climate change and stimulus. And given a Democrat congress for at least Biden's first twoyears, Biden must move fast to spend the money as 2022 could see the Democrats gone fromcongressional majorities.
America's GDP currently stands at $22 trillion and Biden proposes to spend about $2 trillion for stimulus,a horrible precedent set by Trump. Now we have 20 for now as a downside to GDP strips away $22trillion.
Between Climate change spending proposals at $10 trillion, free college, free money to immigrants andfree everything, America's GDP will see a remainder of $8 trillion.
The American public will see a forced conscription to assist to spending by higher taxes.
Biden will ride free and unaccountable to not only spending but the disasters ahead as the wizard won'tbe seen nor will he ever have to answer to anybody, particularly the American public. Between the newsmedia and big tech, Biden will be shielded to hold news conferences.
The recommended read is Jan Kozak "And Not a Shot was Fired". It reveals the Soviet Union plans tothe takeover of Hungary, the Czech Republic, Poland and Central America in the 1980's. Today's plansnot only haven't changed from the Soviet model but the exact replica is followed today.
Close Prices
GBP/USD looking for under 1.3615, ultimately at 1.3583. Means long then short for next week.
GBP/NZD. Close is irrelevant because EUR/NZD is the better trade for next week and highly doubtful toeven consider GBP/NZD for next week.
GBP/JPY. Close at 141.04 or under. Any higher then short for next week.
EUR/USD close right around 1.2137 and short or next week.
AUD/USD. Close under 0.7725, ultimately 0.7694.
NZD/USD. Close under 0.7216 to 0.7190.
EUR/AUD. Doesn't matter to the close.
Long from anywhere next week.
USD/CAD. Under 1.2710 then long for next week. Clos 1.2684.
Author
Brian Twomey
Brian's Investment
Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.
