I see; thanks. Dollar index will likely find support @ 80. I'll be watching to see if that support breaks.
The DX is in a bull mkt. Sellers had their chances for the last 6 years. Dont try and pick tops. Buy pullbacks. Thats my opinion.
thanks for that but the current financial circumstances don't support a 'bull mkt' do they ? the $'s been falling since 1985, the US appears to be bankrupt and in meltdown, what currency do you want to convert your wealth to ? gold's the obvious answer since it will rise if the $ falls, unrelated to other currencies i made a prediction in Mch for the euro to top in the summers and $ to therefore rally but didn't anticipate this financial mess, consequently my doubts this rally is a 'bull mkt', although it's hard to think the euro would rally to new highs, theoretically that's what would happen - equal and opposite to $ however since this is a world wide problem all currencies could debase
usd has been in a 20+ yr bear as you say. who cares about dollar fundamentals? you think other currencies are any better? i am looking for continuation patterns and dips in DX to buy over next 6months. usd has always been a good flight to quality currency and i dont see why that should change now. if it was going to collapse it would have already done so imo. perhaps in a year or two the dollar and US bonds will collapse, but not now i dont think. too many shorts to squeeze first
The 1 good economy thats standin stringest is AUSTRALLIA!! I mean look at the fking USA, they have 2% interest rates and people still say its too hard to make a living there!! Europe's just been trying to keep everything as quiet and hidden as possible all summer, but trichet has no way of escaping those press conferences, and when the reporter asks him to confirm weak eu data, he does, thats when the eur.usd crashes started and went 100s in seconds!! Uk, i dont know what the fuk we think we are doing! lol We are just a tiny little island, tryingt o play hardman, but no-one as a clue what to do so in uk they just spend the day watching what smalltime traders are doing and, and then publishing n boradcasting all the bad news and crashes every hour and on the front page every newspaper.. LOL And then going the pub in evening and everyone complaining even though no-one even understands it! Australlia is the 1counrty that is strong, has no issues with high oil hurting them too bad in summer as they barely use oil, its so tropical and hot there that there are no big investment banks to even go bankrupt, so they are safe on that front! And they had 7%+ interest rate for i dont know how many months or years when USA has 2%, and look how you never heard bad news stories about austrailla though! Aud/usd will eb 1st to rocket back sharply.
wonderful. where'd you write this stuff, in the pub or after they threw you out ? you're definitely addled, what's Australia got to do with anything ? besides using camels for transportation, isn't their source of oil Limeys who melt from the heat ?
k, at 1.27 the euro's hitting the previous fibo 76.4 level i've now added a fibo from the 10/27/00 0.8225 L the 38.2 has been broken so i'm looking for a couple of more weeks down till the election and the 50% level at 1.21+ is hit it's presumed o'bama's going to win but who knows given the way the gore/bush election went because of the timing of the fc the new administration will be part of the fixing process and if it's the democrats i can't see them allowing the republicans to implement policy they don't agree with or approve the selection of paulson's successor if they don't approve, or allow all this to go thru but reverse everything in jan when the administration is installed, it's expected more fixings will be occur between now and then my timeline on the euro decline/$ rally is wk 1/2 of november however if i'm wrong then my next time target is jan/feb and perhaps the euro down to the 61.8 at 1.12