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eternalfuture · 15-12-2003, 03:49

I must agree that the capture of Saddam did led to USD rally.
However, if you take a good look at the charts, it's gapping more than 50 pips on EUR/USD. And the duration of the price below 1.2200 was not even pretty long enough.

Another argument is that USD woes lately has not been primarily attributed to Saddam. The major problem is the twin deficits and souring sentiment. True. Right now the USD is basking a bit on the sunshine. But, when the market discount all of the Saddam's news, it's all over for the USD rally.

Even after the capture of Saddam, 2 car bombs exploded in Baghdad. This means that the insurgences in Iraq is not solely caused by Saddam.

I will look very cautiously as the situation develops. Eur/USD still has room to rally later.

Good Luck, Good Trade.

15-12-2003, 03:49	#15 (permalink)
eternalfuture Padawan Join Date: Aug 2003 Posts: 892 Rep Power: 0	Maybe... but maybe not... I must agree that the capture of Saddam did led to USD rally. However, if you take a good look at the charts, it's gapping more than 50 pips on EUR/USD. And the duration of the price below 1.2200 was not even pretty long enough. Another argument is that USD woes lately has not been primarily attributed to Saddam. The major problem is the twin deficits and souring sentiment. True. Right now the USD is basking a bit on the sunshine. But, when the market discount all of the Saddam's news, it's all over for the USD rally. Even after the capture of Saddam, 2 car bombs exploded in Baghdad. This means that the insurgences in Iraq is not solely caused by Saddam. I will look very cautiously as the situation develops. Eur/USD still has room to rally later. Good Luck, Good Trade.