Oh no, I didn't mean you, I meant the author of that article. Here's another, http://www.bloomberg.com/apps/news?pid=20601083&sid=a_d4crax6nXY&refer=currency Marc Faber (Gloom, Boom & Doom) said on Bloomberg: "Mr. Bernanke, with his monetary policies, he will destroy the U.S. dollar" And this from Greg Anderson, a foreign-exchange strategist at ABN Amro Bank NV in Chicago: "Trichet made it pretty clear that the ECB won't be cutting rates anytime soon whereas the Fed is going to be cutting. The euro may reach $1.55 by the middle of next week"
I wiggled my toes, clicked twice, and poked my eye this morning at exactly 7:59:59 AM. The euro's about to fall
That's a sucker trade if I ever saw one! You might be trading against this position (Nah!, you wouldn't do that)
Everything is off the scale, gold, oil, Eur is at levels never seen before, trying to pick a top isn't going to be easy. I don't think the analysis is precise enough though, 'up 20 then down 300', 'up 150 then down 300', 'peak now and then down 260', 'up 400-600 then down 700-1100' etc etc, too many options, at least the OP was precise No-one wants to get left behind and it's tempting to fade these extreme levels, but the same thing happened last year at 1.3660 trying to pick a top. The US isn't going to suffer alone, it's going to spill over into other economies and Europe isn't really in that great economic shape. Maybe NFP today will see some profit taking, I think a bad number is pretty much priced in isn't it?
And it looks like the IMF are about to do the same, probably in a more orderly way but it's obviously going to have an effect. Buy the rumour?
man; this thread is getting funnier everyday. There is no way IMF selling its gold; US wouldn't allow it to happen. period. It is all buried in its history.
'No way'? Never say never. Although it hasn't been officially approved by IMF members it's a proposal. They expect, if it's approved, an agreement with central banks that IMF gold sales would "fit within the overall limits already set by central banks for their own gold sales" (or words to that effect), so where's the problem? I guess we'll see what happens pretty soon. The US seems to be losing it's grip on reality as well as on the economy
If my history study taught me right; my understanding is that there is more "problems"(problems for the ruling class of course) when gold is being distributed around world than staying in bankers vault. It had taken bankers (very few powerful people around the world) about 100 years to gather most gold together; and most people has never taught the real value of gold.
OK I a Disagree... I will long it till 1.61 Most longers would agree with this chart Green Buy Red sell at the date given <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1822257> I Guess expect 1.55 Today You Guys Like this?