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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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Ashraf Laidi
London, UK
Posts: 0
13 years ago
Apr 13, 2011 20:23
Private economists continue to revise down their forecasts for US Q1 GDP, with JP Morgan revising its fcst for REAL Q1 GDP down to 1.5%. Goldman Sachs cut its nominal Q1 GDP fcst to 2.5% from the earlier 3.5%. Rising oil is increasingly becoming an issue for consumers as well as private economists' forward-looking views.

But as long as USDX weakness is sustained by a QE2 remaining intact until end of June, the mechanics of the inverse OIL-USD relationship should prevail. We must NOT eliminate the possibility for prolonged USD weakness and a pullback in oil, an occurrence, which could unfold on the heels of prolonged Fed dovishness and receding global growth projections for H2. Early signs of such a rare development could be sighted via steady EURUSD and weakness in oil.

EURUSD is seen remaining underpinned at its Feb 18 trendline support of $1.4250s, which should maintain the slow road for a possible $1.4970s target, especially now that the 1.4360s (76.4% retrcmt) has been cleared away.


Ashraf
fastpips
surrey, Canada
Posts: 69
13 years ago
Apr 13, 2011 20:12
Subway90.....I posted a question for you in Commodity section, please give your view when you get a chance. Thanks
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 13, 2011 20:11
last 2 times it did this it bottomed well shy of da tunnel. da ignore tunnel
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 13, 2011 20:05
long legged doji on the eur ..prob gonna head higher:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 13, 2011 20:04
I nasty feelin the street imposed long squeeze on stocks. They often close the opening gap. Be interestin to see if full recovery into the cash close
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 13, 2011 20:02
yea channel retest likely
chloethebull
Canada
Posted Anonymously
13 years ago
Apr 13, 2011 19:59
gonna short @14450 stop b.e tp 14400:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 13, 2011 19:57
The double top was the earlier clue
Sir Ignore
United States
Posts: 3068
13 years ago
Apr 13, 2011 19:55
right Dave...with leeway 4350
Sir Ignore
, United States
Posted Anonymously
13 years ago
Apr 13, 2011 19:54
thanks subway..lookin for long...need a dip..
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