Posts by "muira"

To support my technical argument with fundamentals is that the $2 trillions of eastern European debt added to EU domestic liabilities and exposure to U.S. subprime collatorised debt, brings the Euro zones total toxic debt liabilities to more than $23 trillion, this is set against the U.S. liabilities estimated at $11 trillion, therefore Europe is in a far more dangerous position in terms of the fallout from the credit crisis than the United States. The primary reason for such greater exposure is that the European banks were far trickier than the U.S. banks in terms of off balance sheet leverage i.e. many European banks have leveraged up to as much as X60 capital, against typical wall street bank leverage of X30 capital. This therefore in the immediate future implies greater contraction of the European economies than the U.S. economy as well as suggesting higher inflation and therefore supports the view of a stronger US Dollar against the Euro.

Hi Ashraf
My analysis was based on a daily wave count,weekly also gives a nice picture but i like daily for a few details. I believe it has finished correcting with 77 level as support and is in the early stages of the next 5 wave up. Of course with the weekly count the bigger picture is that its doing an A-B-C with B having retraced upto 61.8% of A which is a very key level and its either complete or doing its final touches.
Regards