Where is the EURUSD going from here ?

What do you think were the EURUSD is going from here ?
if you look at the weekly chart you will see a very nice TREND LINE .
every time we get to the lower trend line we had a great support , but when we react to the upper trend line the resistant wasn’t that strong.
so now he can forecast some correction in the EUR/USD , but remember we are still in a very strong long term bullish trend .

 

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I'm finished with the Dollar. Can't watch the constant devaluation anymore, day after day. I just converted all my assets to EUR and we'll see what happens. Probably bad timing, but I just wanted this pain to stop!

I have no hopes for the Dollar and there is absolutely no indicator that the trend is going to change. In fact I expect the trend to accelerate as it broke upper resistance (technical) and the Fed is not raising rates and the ECB is not cutting rates (fundamental) making the Dollar even more unattractive.

 

I actually believe all of the above is discounted in current prices.

Everything has been pointing against the dollar recently, and nothing points against the Euro.

The surprise side is the short side with so many people giving up on the dollar.

I am not saying the trend is going to change nor denying the dollar is WEAK...

Just saying that it's a bit late to jump on the Euro bandwagon today. What if the subprime crisis spreads to the Euro zone?

It's funny how the media have been pointing out the FED injecting liquidity into US markets as a bad thing while the ECB has been injecting even more liquidity into the European mkts and yet this is being played down by the media.

We are due for some major surprises very soon fellas.

I believe 2008 will be the year of the dollar, especially when US citizens will send Bush and the Republicans back home.

 

Good point. From my experience in the stock market I also believe it is too late. But my personal objective was to stop the devaluation of my assets. I'm European and pay with EUR, so there's no point in holding a shrinking Dollar. If I was going to convert again, it will be to YEN.

 

You are 6-7 years late. That's a sucker's play.

 

I'm European too and I have a small part of my capital invested in US bonds.

As soon as this parabolic upswing stops and stabilizes, I'll buy some more.

This is a great opportunity to invest into US dollar assets at a very cheap price.

For those who think the Euro will go to 1.50 and eventually 2.00...

well...come live in Europe and take a look around and tell me whether the Euro deserves to be 41% worthier than the dollar.

 

I am buying dollars. Sentiment is way off balance. Markets trade emotionally, not fundamentally or technically. I just don't see all the doom and gloom the media and websites are hawking to us. Clear you head and think about it. Maybe all of you don't live in the US. Walmart lines are long, real estate is okay (not great) in our area. Real inflation is in food and energy, but not just in the US. Do we all really think the rest of the world is immune from all the doom and gloom? Think about that one for a minute.

Particularly against the pound. I trade six pairs

EURUSD - Short Target 1.2825
GPBUSD - Short Target 1.8467
USDCAD - Long Target 1.0546
AUDUSD - Short Target 8359
USDJPY - Long Target 124+
USDCHF - Long Target 1.2256

 

BINGO!!

This comment is of great value to those with clear minds. Excellent thought.

 

All very good points. The market will wait until there are no longer any who believe in the dollar, and then it will turn around. Just like it's done many times before.