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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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gino
Posts: 7
15 years ago
May 22, 2010 7:15
Euro Reverses Week to Up; Charts indicate More Upside to Follow

"Based on the last range of 1.3342 to 1.2143, the retracement zone is pegged at 1.2742 to 1.2884 - The weekly retracement zone targets 1.2917 to 1.3100 as the potential upside target"
http://www.forexhound.com/article/Pattern_Price_Time/Analysis/Euro_Reverses_Week_to_Up_Charts_indicate_More_Upside_to_Follow/207715
Ginger
UK
Posted Anonymously
15 years ago
May 22, 2010 6:49
good read below on Euro. May be a few more days of small rises to come followed by a drip down to long term average of 1.18 followed by overshoot to perhaps 1.10 by Summer.
http://www.telegraph.co.uk/finance/comment/jeffrandall/7746806/Whatever-Germany-does-the-euro-as-we-know-it-is-dead.html
Karan
Singapore, Singapore
Posts: 83
15 years ago
May 22, 2010 4:50
@ Catnip - Do you see Eur strengthening further vs JPY and USD at least back to 120 level and 1.28 levels respectively before dropping again to test the 1.20 levels?
lucky
ibadan, Nigeria
Posts: 377
15 years ago
May 21, 2010 23:21
who can imagine that in eight month i use to make lot of profit later it goes i will make another then it goes it happen four time with me the total is 370,000 dollars now i return to square 1 i am doubting if i will sit aside and rest waiting only for good opportunities only these switching in and out it damaged me and put me under stress please render advise whose older than me a day is knows better an age thanks
Chartvuze
salisbury, UK
Posted Anonymously
15 years ago
May 21, 2010 23:17
Hi Xaron

The matter of the Euro and Europe is a very complex issue as every one knows.
I personally am a Euro sceptic and cannot see how a group of countries all with
seperate agendas can make the single currency work effectively.

further to your comment if Portrugal, italy and Spain have such healthy economies
why is there so much concern about them, and why is the Euro falling so heavily, if one
country Greece can destabilise the Euro to such an extent, what does the future hold for
the Euro.

I agree the the USA is in a fairly bad way, but people like the USD, it will be some time
before the USD is replaced, possibly by the Yuan

Any way Im short the Euro


good Luck Out There





like the USD
catnip
Frankfurt, Germany
Posted Anonymously
15 years ago
May 21, 2010 21:41
My friend and me were on the road today ... he is not used to no speed limit , now he almost is.
Of course we missed some profitable FX trades but we think that any Eur recovery vs JPY and also USD will be short lived.
That is reasonable because Germany and France having relative strong economies bear the brunt of the almost USD 1 trn package, but also weaker economies, Italy and Spain , will have to contribute beyond their means. Austerity will most possibly choke any recovery and will lead to recession double dip.
USDx may touch 85, though. However eventually will go to 70 yet not now.
Xaron
Munich, Germany
Posts: 528
15 years ago
May 21, 2010 21:35
Chartvuze, these countries are not real in trouble, otherwise I could simply ask what about California, Michigan, NY ...

I just think the bad stuff is priced in now and at least the EU does something against debts. I cannot see any action in the US nor UK yet.
montmorency
Abingdon, UK
Posts: 610
15 years ago
May 21, 2010 21:14
@Gino: I'm sure he is right technically, but I wonder where are the fundamentals to back it up?

@Station: Of course a weak home currency potentially helps exports, but first, you have to have something worth exporting (like Germany). Tourism is ok, but we can't live by that alone; that is for 3rd World countries, not the mother of the industrial revolution. The outgoing "New" Labour government belatedly decided to pay some attention to industry in its last dying days, having ignored it for the best part of 13 years. Perhaps the Conservatives will do better, but I doubt it.

I remember years ago in pre-Euro days and before I knew anything about trading, observing the exchange rates in the newspaper, and observing that, like ourselves, Italy had a "leaky" currency that just kept getting weaker, whereas Switzerland and Germany were rock solid, and just kept getting stronger.

Devaluation should be the icing on the export cake; it shouldn't be the whole cake. It should be like a gas/accelerator pedal to tweak things up a little when they are flagging, not an engine in itself.
lucky
ibadan, Nigeria
Posts: 377
15 years ago
May 21, 2010 20:54
if stocks bonds and other currencies go up gold is go down because they will liquidate gold to that
gino
Posts: 7
15 years ago
May 21, 2010 20:26
Chris Vermeulen (TheGoldAndOilGuy.com) said: The US Dollar chart below looks as though it has topped on the 4 hour chart. We could see the dollar drop for 1-3 weeks which in turn will help boost stocks and gold s they both seem to be bottoming. usd could reach 82000
what's ur idea?
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