Where is the EURUSD going from here ?

Discussion in 'Forex' started by bendror, Sep 27, 2007.

  1. Mr B

    Mr B

    in the late 1990s, the DM/USD had resistance at 1.42, when it closed above this level it went to 1.45. I think the eur/usd will behave the same, having closed this week very decisively above resistance at 1.42, it could move to 1.45 following in the footsteps of its ancestor. The DM/USD sold off hard at 1.45, perhaps eur/usd will also behave bearish at that level.

    although it is supposed to be the "eurozone", it still is governed very similar to the deutsche mark, the ecb are very very bundesbank like so I think it will behave similar to the DM as the ECB will act in an almost identical fashion.
     
    #21     Sep 29, 2007
  2. Jama_cloy

    Jama_cloy

    Using past experience is smart and useful, but should be done carefully - in this case I desagree with your analysis, simply because the DM/USD market psychology is completely different than the EUR/USD, the EUR is a lot bigger and has a lot more traders, who in turn have a different agenda than the one traders had regarding the DM/USD.

    am I the only one that thinks the differences are too big to try and compare the 2 markets?

    Cheers,
     
    #22     Oct 1, 2007
  3. bendror

    bendror

    You forgot that when the market don't have something else to look at
    traders use the closest thing they can to find they're way, and specially
    the technical.
     
    #23     Oct 1, 2007