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TraderPierre · 16-03-2008, 10:10

1.5720 area is an extension of the 0.8225 to 1.3665 (October 2000 to Dec 2004), 1.70 would be the next level as far as I can see which I think is highly unlikely.

It's hard to see what fundamental catalyst could cause a move up to 1.70, Fed 100bp cut is pretty much priced in, there's more chance of some profit taking at these extreme levels so I'd go with pelle64.

16-03-2008, 10:10	#6330 (permalink)
TraderPierre level 2 Join Date: Nov 2003 Posts: 249 Rep Power: 0	Re: Sell Eur/Usd 1.5720 area is an extension of the 0.8225 to 1.3665 (October 2000 to Dec 2004), 1.70 would be the next level as far as I can see which I think is highly unlikely. It's hard to see what fundamental catalyst could cause a move up to 1.70, Fed 100bp cut is pretty much priced in, there's more chance of some profit taking at these extreme levels so I'd go with pelle64.