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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
a few days after ECB member Stark babbled "strong Irish economy" Ireland lowered GDP outlook
and its ability of pay back bailouts became as questionable as it has always been for those who can do basic arithmetics. Ezone banking system requires more ECB blood transfers and Greece is bankrupt. Spain and Portugal GDP falls, Italy industrial production falls, inflation explodes.
Wait and see which currency the undertaker buries first. My bet stands: the Eur will be long forgotten when the dead USD rallies.
decided to stop fading for now... will just hold posi out... could take some time though....
flew to korea yesterday to visit family and friends... will stay here for about a month...
upside contained for now by upper channel resistance running thru 4870/80....
could see some correction early part of next week.... down to 4690/4700 area or deeper correction could see test of 4580/4600....
as long as 4580 holds... see more upside for test of 4980/5000 with possible extension to 5050 level....
clear break and close below 4580 suggest bigger correction possibly down to 4390/4420 b4 heading toward 5050/5100 resistance....
gl and happy weekend all!
and to all mates on forum...