Quote:
Originally posted by Iris
Eur/Usd.........
A Happy<>Healthy and Prosperous 2005 to All.....
Time/Price has a current Alltime High at 1.3666 with Fridays selloff Low to 1.3386...with the mid October 2003 breakout from 1.2460 being a pivotal launchpoint North or South. With Oil leading the charge coupled with US Account imbalances Eur/Usd advanced 1400+ pips as the USD took a Bear turn for Historical Lows at 80 basis...with my Good Friend James at TeamForex being staunch for a weakening Dollar when the USD flucuated in the 86.50<>87.50 Price Zone with the E/U at 1.20<>1.24 with the breakout of $50 Oil and E/U at 1.22 there was a strong advance North...and James had the call with USD testing Historical Lows at 80 basis.
The Question going into 1st quarter 2005 is...
Is USD suffienctly weakened ?...
Or
Is Euro excessively appreciated ?
The Market is weighing the balance of this equation with the turn South for a 1.31<>1.30 heading before the above scenario begins to form for a North 1.37+ or South 1.25-...with Euro Large Speculators adding Net Shorts as the Commercials are in a Distribution phase of their Net Short buildup of the 4th Q2003. Also the USD 15 Year Seasonal posted back about 5 +/- pages shows a strenghtening Time Period for Jan/Feb...and an important Reversal window...Looking for a North containment at 1.3530<>1.3550 for South Entries to a decline thru 1.3450<>1.34 to retest the 1.3380 basis.
A Great 2005 to One and All.
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Um,
Iris, I don't see any mention of EUR/USD going to 1.43+.
What happened to all that?
Sam