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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
no posis btw
euro shts from up north trailed to stop out last week
you'd better close your eurusd shorts and console yourself. I also think the euro is shit but now the question is which one is the bigger shit.
line break. I make extra allowances at holiday periods :-)
My initial targets posted allow for "correction" of 4th Nov move down. i.e I lighten load at both those levels. Beyond the 3735 level I transfer to your camp for further upside :-)
good crossroads for position organizing
Two or more facts work together to yield unusual high absolute strength of EUR not seen since Nov 4.
Today first QE2 buying of long term bonds
German bund yields rise while PIIGS yields fall
Thus I assume despite of german politics balking at Eurobonds these will come, because the market is already pricing in its effects. Eurobonds will indeed solve the Ezone problems however at the expense of the richer members.
So stay tuned it is unlikely that EURUSD reaches for the sky rather the sky shouldbe the limit at
1.346 if at all.