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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
btw, we want bot cat come back ASAP, not the nonsense patterned cat. :(
it's not Euro strength as CAT always voices out.... agree....
for me it's broad-based USD weakness that you can easily see on the USDx chart....
it's been pointing down for quite sometime(check out the longer term chart and the downtrend is intact)... and don't see any signs(yet) of reversing....
haven't changed my view... see it targetting 70.0~70.50 initially then 67 by Q2 next year.....
this will propel Euro to 1.54 level initially... then above 1.60.....
technically... if Euro breks above 1.5144... it would mean resumption of uptrend....
but first things first.... watching 1.4700.... then 1.5144.... to the upide....
to the downside.... 1.4055.... and much further down... only break of 1.2873 would confirm resumption of downtrend...
what do u think will happen next ?
Given the fundamentals weighing on EURO, it is a remarkable reality that EUR/USD still holds on and to the irony and mystery, euro is building some steam indicated on the stochastic daily charts
http://capital3x.com/?p=325
but technicals give you the current direction and target... while fundamental range is too big that it can point up and down given the different timeframe...
gives you all the info you need whether to short or long and in many cases do both... :)
i'm not an EWaiver or use FIBO... or use any kind of tools or indicators....
just keep it simple and respect the current/latest trend...(doesn't mean i overlook the bigger trend)...
just repsect and stay true to the trend and you'll end up better than OK....