Dan - Maybe I wasn't clear in my point but I am saying eur/usd is a proxy for Oil...So rising euro and lowed USD will boost Oil. I have been long Oil and euro for a few weeks now
eurusd remains a key proxy for Oil performance ( Ashraf had a chart on this relationship) and many TA are saying 1.6 is theoretically possible on this pair ( which my rough calculations tell me, we could hit $90 plus on crude). Technically speaking as long as oil holds 74.9 I remain bullish and we could be looking towards $83. Fundamentally until the perception of the Macro rally sours, Oil will continue to rally.
Ashraf could we kindly get your learned opinion on this matter?
Reading peoples comments here on Oil I see v few took advantage of the breakout of the top of the trading range at 76.2 as I commented a few days back. I'm all for being contrarian, but occasionally the trend is your friend and there is a wall of money out there pushing asset prices up at the moment.
Was thinking the same on oil...short as close as possible to 75.4...Though a break and close above 76.2 and it will be time to start riding the wave up
@Abood be careful mate Oil is rocketing today...I wouldn't start shorting oil until it breaks 72, then validates that with a break of 71. At the moment it seems to have re-entered the upward channel that seems to have started in Feb 09
Ashraf could I kindly get your opinion on the DOW and SPX...am itching to jump in short but am vary that earnings season could see another leg up on both indexes. M&A activity seems to be picking up aswell ( Kraft/cadbury etc). A friend at Rothschilds seems to have started working weekends again as dealflow has significantly picked up
You haven't missed much Asad...WTI has been moving sideways and the robots at the disposal of the FED have been pumping this market higher and higher...oh yeah and Obama won the Nobel peace prize for effort...hahahaha...farcical!!!
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ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (1 year ago)
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Ashraf could we kindly get your learned opinion on this matter?
Thanks
Ashraf could I kindly get your opinion on the DOW and SPX...am itching to jump in short but am vary that earnings season could see another leg up on both indexes. M&A activity seems to be picking up aswell ( Kraft/cadbury etc). A friend at Rothschilds seems to have started working weekends again as dealflow has significantly picked up
Thanks