what do you guys make of EUR/USD?

I think it's dangerous to trade based on a single item (in the case of EUR/USD it seems to be the prevailing interest rate) but this pair has just not been... going anywhere!

Maybe because there's no other factor(s) giving more impetus than the US interest rate right now.

From what I've read some predictions are saying it's headed to the 1.1300s, others say it's headed back up towards 1.3000 and higher.

Where do see the pair going, and why?

Seems like the major indicators are just spinning in circles.

Good thing I don't use any of them.

 

1.13

 

... and why is that?

 

The same reason as last time: Dollar index is at its historicals lows.

 

I think that once interest rates show even an inkling of pausing, you'll begin to see an attempt at a selloff again back to the high 1.20's and perhaps even beyond as the CA comes back into view. That's not going away, you know. It's actually out there, ready to rear it's ugly head again.

Secondly, right now you've got massive repatriation of corporate funds coming back into the US. That hurts the EUR most of all, and that will end by the end of the year (deadline for corporate tax bennies). Once the two of those things are gone, look out. The market just loves to hate the dollar.

-Ivan

 

i dont know where the euro will be 6m to a yr from now - alot of fundamental analysis involved there and not so much technical...but in the short term..there is a possible eur/usd buy trade being setup...will give you more in the coming day or two

 

haha Ivan - true!

and to LOVE the euro!

 

It will for sure take out 1.20

 

All I can say is I hope people keep propping the EUR up in the short term, because I sure love making money shorting it. If they want to continue to drive it up because they think the EUR economy is "better than the dismal piece of...they thought it was" then great. I'll take their dollars at those prices.

 

No, the indicators are not going in circles.

As Sherlock Holmes mentioned to Dr Watson: "you see but do not observe" (and then went on to the example of how many steps there were in the steps leading up to the hall)

As I am writing this I am seeing a definite move in the market being set up. Time to prepare my campaign (as Jessie Livemoore would say).

Later

Sherlock