This is dedicated for EUR/USD specialist!
Any predictions?
US Dollar rallied against the Euro this morning, and US treasuries are selling off ahead of the CPI report, meaning the markets think we will see higher consumer inflation. I think if that’s the case, we may see a spike lower, but support around 1.4600 to 1.4620 should hold on the longer term US interest rate and US growth sentiment.
If we see weak inflation, we’ll probably see the US Dollar sell off immediately…we’ll just have to wait and see!
looks like the brake of the .618 retracement level from the previous week was the end of wave five in my count. The next wave should end back around the 1.47 range.
Looks like we have a channel developing here as shown on the daily attached, I’ll possibly be looking to buy the breakout to the upside or sell the breakout to the downside -
Finally got our breakout to the upside through 1.50! Interesting that the move came late in the session…
The dollar sell off is severe, across the board. No signs of corrections even, we need better prices to ride this though.
Nice. Up almost 500 pips right now. Do you all think is time for a correction? I personally feel it still has some force to go. What do you all think?
Darn! I got this one right… +646. I wish I had more capital to risk.:rolleyes:
Dollar reached it’s record low yesterday against the euro and the yen. It is declining every day on the concern that banks and hedge funds will face more credit losses in the days to come , showing no signs of a solution in the near future unless the Federal Reserve cuts interest rates.
The U.S. currency dropped as low as $1.5651 per euro, the weakest since the European currency’s debut in 1999, before trading at $1.5609 as of 7:10 a.m. in London, from $1.5635 yesterday.
I hope it will be useful for you as much as it was for me.
Cheers!
I’m seeing a double top forming on the Daily chart. This would be par for the course on the EUR/USD as of late. A double top following the recent strong uptrend. I have a feeling that we may see 1.5900 followed by a trend reversal.
Anyone care to second this?
amazing how it just broke through those levels like a hot knife through butter.
Well… there is an Unemployement Claims announcement for the US on Thursday that should drive the price up through 1.5900 (considering unemployement claims are probably going to be up which should make the US dollar weaker) but how long it stays up that high - who knows… a trend reversal is still possible.
the bullish is still strong .
Check out the daily pin right at 382. I am thinking there will be some euro strength before it tests 382 again and see if it breaks 500.
