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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
the rise to 1.3680 on the EUR had no follow through - dropped 80 pips in an hour and back to the dominant down trend.
However, all-time lows (or longish-time lows anyway) are out of my comfort zone, and since we got into this territory, I haven't been taking the risk, preferring to wait for the next big rally. I may be wrong of course ... :-)
Yes, GBP _must_ be in a bad way ... look how well the Euro has been doing against it in the last few days....more so than against the USD I would say. Personally I'm happy to see the rallies in EUR/USD, which I am happily shorting. I still have 1.32 in my sights, or at least back to 1.34 again.
@AVG: Why is USD losing its momentum? (Well, not against the GBP it isn't, not really). Well, as others have said, it is probably people re-discovering risk appetite (or people being encouraged by the pundits to re-discover it Personally I think we are looking at a stock-market crash, or at least a bear market. It is only a question of when. But that's just my personal opinion. That should be USD-positive, but it might also end up being gold-positive as well. (Just another opinion).
i hope to capitalise the account more in the coming months.
i use a trend trading system and ever since I came across Ashraf, the marriage of the two has been great.
i am a little nervous about my gold shorts but as long as i exit them at the right time its alright.