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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
I hope you are enjoying your vacation. Waiting for your last article of the year to get prepared for the next year. Thnaks
looking at the Euro/usd it does look to me that the pair in consolidation, for more up movement.we can get to 1.3430.
but this is only my personal opinion. I don't trade this pair
Remember what the guys at zerohedge were predicting for S&P 500 when the index was at around 700 in spring of 2009? They expected full collapse. Now we are at 1250. LOL.
Remember what these same guys were expecting whn EURUSD was at 1.1800 6 months ago?
Markets do not move as some people want you to believe. Markets like to move against the herd. And now the herd is fully short the EUR. And the funny thing is this fact prevents the EUR from falling (vs USD) if you ever wondered why the hell the EUR has not collapsed during the last 3 weeks as so many "experts" (like Ashraf) have preached.
Think twice before you embrace the "follow the herd" mentality.
Expect more than 1.3350.
They want the herd to fully embrace the "EUR is collapsing tomorrow" idea and then the short squeeze will wipe the bears out. Just watch out.
does anyone still follow their advice?
If they traded their ideas (especially for stocks) they would have gone bankrupt a couple of times since start of 2009.