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Posts by "mike-ellis"

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Mike-Ellis
United States
Posted Anonymously
14 years ago
May 5, 2010 15:25
In Thread: 1999 & 2010 Similarities in USD, Euro
Yes, 74 right shoulder, 89/90 neckline. Not unexpectedly, the EU/$ shows the converse, namely an even more vividly defined broad 7-year upright Head and Shoulders with a relatively closer neckline at 1.265. It gives every impression that the early millenia honeymoon of the Euro is over, the full head peak height projecting down to a target of 0.885. EU/BP meantime also giving big picture signs of a major top out and risk back to 0.725 (maybe that predicts a solid win for the Conservatives on Thursday?).

Regards Mike
Mike-Ellis
United States
Posted Anonymously
14 years ago
May 4, 2010 21:04
In Thread: 1999 & 2010 Similarities in USD, Euro
Hi Ashraf,

Taking the entire period from mid 2003 to date, the Dollar Index looks to have a shot at a huge inverse head and shoulders if it can break above the 89's. That would imply potential to 108ish; can you foresee any economic scenario to justify that kind of Dollar strength other than a complete European meltdown and a major second dip in the global financial crisis?

All the best,

Mike
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