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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
I have the same question as Ross.should we be worried that the eur/usd will keep going up...
Hi Traders
Trend bearish all time frames, but test this week important suport monthly box [1.1575,1.1890].
Until now any signal for a temporary bottom at this levels, but i change my view this week, Strong Bearish to Bearish neutral, because this cross test important suport/box montly chart.
Key number short-term 1.2350 below key expect new lows target 1.1750 ( look to chart fibonacci areas>> perfect testing upside and dowside).
Last session possible temporary top is formed 1.2152 because for now, resistance hourly range [1.2154,1,2165] and daily chart [1,2154,1,2178].
If close hourly above 1.2178 new resistance range [1.2233,1.2250].
Suport hourly 1,20 and range [1.1940,1960]. Close hourly below 1.1960 expect more damage first target last low 1.1875 and second target 1.1750.
Nothing new follow the pattern of last weeks. Pattern??
Looking to daily chart EURUSD tested friday last suport box now resistance this pattern have 6 weeks.
Friday test EMA 21 represent for now important resistance.
Have a nice week many pips and points for all
Charts Here:http://bit.ly/8Z9Gkl http://twitter.com/Marketrend
what do u think would be the situation day after the Euro breaksdown?
Would the eurozone / french, german central banks etc bring out their new currency on day 1? what would be the conversion rate? and with the recent gyrations, the governments must have planned a Plan B in place of the Euro - how would that go?
growth in US is fake. there r no growth drivers and its not long before the treasury will run out of stimulus packages. at some point of time, the fed will step in and buy the treasuries and bring the dollar down. will this take a year or five years - thats open.
for the long haul, i wd be happy to hold the canadian and the aussie. for now, euro is as bad as it gets but i wd rather keep it than risk a dollar run.
at the same time, i do think of what rate the Deutchemark would the converted to the Eoro, if and when, Merkel and Sarko throw in the towel. Most reserve euros would be looking to be converted to the Mark than the Pasetta, for example, moving the Mark up and the rest of the currencies down.
http://www.youtube.com/watch?v=6CWOBKrj_Ec&feature=player_embedded
Note I don't count on EUR recovery my theory is a huge bull trap stocks and EUR.
German Chancellor Merkel says that the German economy will be back to what it was in 2008 in the 2012/13 time frame, if we are lucky. I heard some similar comments from US and also from UK, former economic advisor to Gordon Brown (GB). Dont want to speculate that they know something that we dont or is it that all gov heads (Academy of Lies) lie immaculately.
More like Greece, Portugal and Spain will have to get lucky for Germany and France to extend its rebound without having to bailout the rest of the EUBonds issued by the Euro SPV would not have senior status in the capital structure, apparently, judging by comments from an EU source quoted by Reuters. They will come in many different flavors, err, maturities though! And of course, they will be AAA. Hooray!!!!!!
EUR/USD has bounced back to the 1.2065 area after a fractional dip below Fibo support at 1.2048. How about that, eh ol chum! cheer up. While cabel just gave me a great two weekly run of about 860 pips I mean how sick is that. I thought I would never forget this May I June's just sweater allot less tensions, if there is a worse to come BRING IT ON!!! I'm well prepared.