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More Euro Losses Ahead
More losses in the euro are seen ahead despite rallying oil prices.
I don't understand people like Steve O who come to Ashrafs site, take the time to read his analysis and witness the near perfect calls, but yet they are blinded by their own egos.
Why can't they just leave - No one is holding them back.
They are legends in their own minds :)
i have made tons of pips after considering Ashraf's analysis even as we speak, my cable and GBPJPY are sitting on a nice bank of 200 pips from yesterday. this is IN ADDITION to my usual trading system.
Ashraf is not infallible but all of us here who support him and believe in his analysis, are also mature people ourselves and take our trading decisions ourselves.
now be a good boy and dont let the door bang you on your posterior as you leave.
Steve O :
Please note that this is a FREE service, followed by free Quality Analysis.... Mr Ashraf is not here to babysit us, the ideas are given.... it is for the individual to decide on the "game plan" .... if you find someone who is perfect, .... followed by FREEE........... Please be so kind as to let us Know!
So please dont come here to distract.... thank you.
Why is it so quiet in the forum and the markets
"Even according to the White House's new budget projections, the gross federal debt in public hands will exceed 100 per cent of GDP in just two years' time. This year, like last year, the federal deficit will be around 10 per cent of GDP. The long-run projections of the Congressional Budget Office suggest that the US will never again run a balanced budget. Thats right, never."
( from: Niall Ferguson: A Greek crisis is coming to America -http://www.ft.com/cms/s/0/f90bca10-1679-11df-bf44-00144feab4
9a.html )
Whenever you have the time, do share your thoughts about the end-game to the PIIGS crisis.
I agree with you that the EMU will likely stay intact; there is too much at stake. However, the holes are fairly big.
How far do you see the current crisis and the revelation about the off-balance sheet sovereign debt affect Euro's credibility as a reserve currency? The likely fall-out is greater appetite for hard-assets/commodity currencies. This can result in a situation where the DXY rises because of the weight of the EUR/GBP, while commodities also rise as reserves held in Euros seek other alternatives. Possible??
BNP is out with a EU320 Billion estimate for a bailout package.http://www.bloomberg.com/apps/news?pid=20601109&sid=a.yAFN.xKOIg&pos=15
Do you think that such a package will go through? How much of it is going to be QE style money printing and how much will be loans? Will the IMF get involved (like suggested by Irwin Stelzer for the UKhttp://www.businessweek.com/news/2010-02-17/cameron-should-mull-u-k-plea-to-imf-stelzer-says-update1-.html).
YES GOLD DID BREAK ABOVE 1117-18 trend line resistance but false breaks are common. now back down and 1020 intact.
Ashraf