Looking at the confusion relating to currency movements - Why anyone would want either the EUR or the USD fiat is beyond me, but they are all we got (till gold reasserts its rightful place in monetary history). So, we cover them till they implode.
For long term charts on the EUR/USD see my earlier post here.
STB has long been on the EUR/USD call of a move to 135 then 125 then 116. Right now the pair is at 127 two points from the 125 target and from the 1.2572 next major low. It is also just above diagonal support off the '02 lows near 1.24 here.
After the backtests of the rising channel off the '08 lows it has been all down hill for the EUR/USD. Now the pair is thru major support at 129 and about to test lower channel support at the 125 level. When do they fight back or does the devaluation continue? Can they fight back may be a more appropriate question? There is pretty fat positive divergence going back to September indicating that this move south is tiring.
Showing posts with label xeu. Show all posts
Showing posts with label xeu. Show all posts
Friday, January 6, 2012
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