so, then, as Ivan is pointing out with the other factors (oil, interest rates, etc.), the USD eco numbers still suck - that is true - but I think those numbers are not the real reason EUR/USD flew last year.
it was (bad) speculation that moved the market up 16-cents. a global USD-sell off panic - unfounded because foreign investors didn't flee the US, as indicated they would, by prominent bozos.
and, I say "bad" because, apart from the US interest rate hikes ("FED FED FED") pretty much everything else remains in place yet we're within 3 cents of the price where the E/U took off last September (the 1.2100s).
In the simple view, that indicates a 1300-tic "whoops-retracement."
Meaning, the price spike shoulda never happened.
That's my take.
What SHOULD happen now (doesn't mean it will) is that we'll see a range set in again, high to about 1.3000, low to about 1.2200s.
That's just a wild guess though. I trade both long and short EUR/USD so I don't care where it goes, as long as it goes.
Congrats to Chinook for passing 100,000 hits.
Sam
it was (bad) speculation that moved the market up 16-cents. a global USD-sell off panic - unfounded because foreign investors didn't flee the US, as indicated they would, by prominent bozos.
and, I say "bad" because, apart from the US interest rate hikes ("FED FED FED") pretty much everything else remains in place yet we're within 3 cents of the price where the E/U took off last September (the 1.2100s).
In the simple view, that indicates a 1300-tic "whoops-retracement."
Meaning, the price spike shoulda never happened.
That's my take.
What SHOULD happen now (doesn't mean it will) is that we'll see a range set in again, high to about 1.3000, low to about 1.2200s.
That's just a wild guess though. I trade both long and short EUR/USD so I don't care where it goes, as long as it goes.
Congrats to Chinook for passing 100,000 hits.
Sam