billone2win
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Loooooower than most people expect .........bently said:
I_will_win_this
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I believe the EURO will stage a rally.
It's very oversold on the RSI and the Momentum Indicator is not making significant lows compared to the price movement.
When nearly every page of every paper is covering the problems in the European economy and political situation and the fallout on the Euro the price action is invariably over.
Just my opinion.
I would go LONG the EURO but not holding positions over night.
It's very oversold on the RSI and the Momentum Indicator is not making significant lows compared to the price movement.
When nearly every page of every paper is covering the problems in the European economy and political situation and the fallout on the Euro the price action is invariably over.
Just my opinion.
I would go LONG the EURO but not holding positions over night.
billone2win
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You may be right. But I was under the impression that bently had in mind a longer time span - " how low eur/dollar is goin to go..." if not by December, by the end of July? What do you think?
I_will_win_this
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I think a break of 1.17 is possible (the low of May 2004)
But for the longer term it's important to remember that the lower the EURO goes the more exports will increase which should then help to begin in the stabilisation of the economy. Also, the focus has been diverted away temporarily from the US' mountain of debt but it will surface again.
Finally interest rates. They are higher in the US which I believe benefits the USD. If the rate hike cycle is at an end and the EU begins to raise their rates then this may help in a rebound.
But for the longer term it's important to remember that the lower the EURO goes the more exports will increase which should then help to begin in the stabilisation of the economy. Also, the focus has been diverted away temporarily from the US' mountain of debt but it will surface again.
Finally interest rates. They are higher in the US which I believe benefits the USD. If the rate hike cycle is at an end and the EU begins to raise their rates then this may help in a rebound.
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