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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
is ther any correction on eur til 1.3150???
i have sell orders there.. and i did't close it till now
may i wait till euro correction or close it now?
only break below 1.3018 would see bigger correction...
Ashraf
But I think it all depends on China now , if PBOC makes a surprise hike that will be bad for eurozone economy . That will put PIGS again in full focus.
so on long term view i would like to sell it too. Indeed UE inflation is on the upside, but i think USA want a weak USD in order to create new job thanks to exports that's why I think FED had dovish outlook today and hold the idea that they could put new QE on the table .
And if chinese don't hike rates new QE will be their weapon...
+ european debt crisis is over for several month
+ chinese could buy euro
USA want to hold their leadership in indian ocean where is most important exchange area in the world tht'why they should have a weak dollar to be competitive in this region against the yuan.
so I think there is no reasons for the 6 next months to see a bounce in the USD.
That's why buy eurusd for long term
could keep moving higher without much retracement...
only break below 3118 confirms current rally from 2643 has ended....