Euro's Third Down Leg

The current leg down in EURUSD has exceeded each of its previous 2 down cycles in magnitude (22 Sep-Oct 2nd & Oct 26-Nov 2nd) and is at risk of extending losses towards an preliminary target of $1.4615, followed by $1.4280. With the USD index has finally closing above its 55-day moving average for the first time since April and crude oil vulnerable to extending losses towards $66 after having broken below its Jul trend line support, EURUSD is apt to test its next preliminary target at $1.4615 (Sep 11 high, Sep 21 low, Nov 1 low, Nov 2 low). The fundamental arguments for these euro risks emerge from increased global risk aversion (Dubai, Ireland, Spain & Greece), as well as nascent signs of stability in US jobs. Although we see no change in US interest rates before H1 2010, markets pricing of USD-favourable yield spreads is helping to lift the greenback. EURUSD upside capped at initial resistance of $1.4770, but the previous support of $1.4820-25 will be the barrier for the bulls.
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They know they must get eur over 1.45, gbp over 1.61 and aud over 0.93 before europe opens
eur/$ might brake friday low 1.4266
Welcome to the Forum.
Don't forget to vote for Ashraf at the Shorty Awards. Also, you HAVE to state a reason for your vote to be counted. Thanks!
Asad
Ashraf may be correct with his 1.42 call-perhaps a day or two early!
The funny thing is, people think it is at support. It didn't even fill the manic run-up of yesterday yet. Closed at 1.4417 on Friday. So they think they have the buy of the century with eur at 1.4455.
Asad
Hi all ,
Common , let"s support our man !
OMG !!! WE TALK HERE ABOUT FINANCE ?!!?
check this ooouuuttt :
Linda Matthews I nominate @SuzeOrmanShow for a Shorty Award in #finance because...I can.
27 minutes ago