EURUSD 1.7000 Today

Discussion in 'Forex' started by otherside, Sep 22, 2008.

  1. That is what the headlines would be reading today if it wasn't for the central bank interventions over the last 2 months.

    Goodbye Dollar....hello Amero. The US is in bankruptcy liquidation mode. Make no mistake about it.

    Our damned politicians sold us out. Will we be saying things like this in the future?

    "Next summer I am going to visit the Deustche Bank Grand Canyon."

    "Last weekend we had a nice time in San Francisco. We took lots of photos of the HSBC Golden Gate Bridge."
  2. More like hello CAD. No way will Canada go for a "Amero".
  3. ROFL...
  4. I disagree.......and I am SHORT the EUR/USD from 1.4820 on the recent pop for a quickie multiday SHORT play.

    In the end, the economies in the EU will also pay for our current financial infrastructure destruction.
  5. 1.70 EURUSD is a possibility next year, or maybe this December if all hell breaks loose...

    However, right now - EURUSD seems an OK buy between 1.4650 and 1.4500 ... it seems very careful in its path, but I don't see it going below 1.45 even with a bailout package right now. Serious intervention by central banks - sure, then we could see lower towards the 1.40 and maybe test. Without serious central banks shoring up the USD I don't see it going below 1.45 right now.

    There is no trends here right now, only very strong swings from uncertainty and market interventions.
  6. Really? I'd be stunned beyond belief if that were to happen.

    The situation in the EZ is deplorable right now. It's just that all the attention is on the US. For all the smoke and mirrors of Paulson and Bernanke, Trichet and characters are far worse with the whole "Nothing to see here, move along" laughable mantra.
  7. moarla


    there is a whole differenze between fed and ECB. Dont forgett this! ECB has to look ONLY (!) at inflation/price stability !! And no politican can ask them to lower rate. They have total autonomie!
    Now look at the fed.....
    Now u are near to see whats wrong in the US AND THE USD :---)))))))
  8. fseitun


    I think the Euro will strenghten as the US is trying to stop the bleeding.

    It may hit 1.50, definitely not 1.70.

    Expect a dollar rally as soon as we start to see some light.

    As someone stated above, all the focus is on the US as if all other countries mean squat in the economy.

    If the US goes down, everyone else is going down with them.

    Also, Trichet and the ECB have this fetish for inflation but I am not sure that given the current recessionary foes in countries like Spain, Ireland and Italy holding interest rates at 4.25% is the smartest thing to do.

    Many people can't afford to pay mortgages in the EU, consumer spending is practically zero.

    However, EU is fighting inflation.
  9. That doesn't mean the Euro Zone's economy is in much better shape. All that means is that the ECB cannot act to help the economy because they only have one mandate: Price stability.
  10. fseitun



    I truly hope that EU avoids a recession because the ECB is way too rigid and stiff about deviating from its mandate.

    If EU gets into a recession, it'll be a very long one.
    #10     Sep 25, 2008