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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
Well the euro continues to defy gravity - and my hats off once more to the long euro party.
Any positive rally from the euro itself may fade, but then the FEDs refusal to protect the greenback supports it until the next surge.
Portugal yields still high, but it looks like the ECB have convinced the markets this month - and there can be no bull market in equities with the FEDs money printing policies.
But at the same time perhaps the euro crisis is due a comeback with all the euro shorters beginning to close out their shorts.
place yer bets...
yes... somewhere around 4320/50 level... main resistance line from july 2008 to nov 2009...
once Euro settles above that line.... the main focus will shift to nov 2009 high of 5144....
the reason why i said... we'll likely see 4500/4600 then correction back down to 4200/4250 b4 targetting 5000/5100....
shrimper take a peek on the monthly 4330 tp
minor correction down to 4030/50 then extension higher to 4320/50 b4 correction down to 3800/3850..
but for now need to settle below 4200 and break 4140... :)
yes... short for now to 3800/3850...
but after that higher.... :)
good to go long 3800/3850 level..... for 4500/4600...