Discussion in 'Forex' started by GlobalFinancier, May 12, 2006.
Long 1.2391. Intermediate term bullish.
Short aud/usd .7601 looking for .748
Closed .7531 +70
The market talk is bearish on the US Dollar ,generally this would make me skeptical,but the Euro has given little ground despite the weakness in gold.
If we break above 1.30 we can probably make it to the old highs.
Based on currency movements in past cycles we may eventually get to 1.45....sounds high but one just has to go back a few years
I don't think so. The ECB would go insane, the export market of the EZ would essentially implode, and the crying now because of the higher Euro (read French FinMin saying "we will do all we can to stop this") would reach astronomical levels.
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