I here some of you talking about it is time for a short position But I mast say it is looking very risky at this moment :eek:
If you feel sick in your gut, then it is time to get short. Lots of order flow today on the CME (FX). Quarter End. Lots of manipulation. Take profits, etc.
The big mistake to call the top; just look at the bond market; bond price still raising; look like fed still pumping money out or other central banks is buying usd asset to decreasing the pressure of their currency raising up too fast. either way; USD is going down fast.
How do you convert an asset to a different currency? Not that I want to, I just don't understand how you would do it unless it is cash.
EUR does not deserve to be 41% worthier - it deserves to be at least 100% more valuable. Europeans are so much smarter....
Do you really think the bulls finished their move? If that's so, I believe we are about to see some profit taking which will lead to a correction, but then we'll get another buying opportunity for all those who are holding long positions for quite some time. Q?... In which level do you think we'll get our next buying opportunity?
When I said it's late to join the Euro bulls and might be time to start contemplating giving the dollar some love, I didn't mean to call a top. It's impossible to call a top when a market is making new all-time highs day after day. However, I've carefully being following European economic reports and it looks like the economy in Europe is not immune to a slowdown either. Yet, the Euro keeps on making new highs everyday. It's going to take some key fundamental to change the outlook and stop this trend. Next Thursday we have the ECB interest rate announcement. It'll be interesting to see what they do and what they say in the post-release conference. Technically speaking, NOTHING is pointing to a reversal. The dollar index made new all-time lows, which confirms investors are flushing the greenback down their toilets. Nevertheless, reversals can occur in a day or two and usually are sharp ones, catching everyone off guard and creating a panic effect. My bias is toward the dollar though. There is a point where common sense must prevail over the charts and I absolutely believe it's utterly INSANE to see the Euro above 1.42. I keep listening to European companies bitching about the exchange rate and how it affects their exports. If the Euro stays at these levels for much longer, it'll be the European economy to go into recession.