Euro to 1.60!

If you had the TL's drawn, the short from the .6000 was obviously not a bad trade. And given we have a wedge in an uptrend (which is suppose to be bearish) it seemed like the more probable trade.

Today's D candle is shaping up to be a very bearish one with 5800 - 5770 being the support area of the wedge.
 
Quote from Bigpipn:

haha, so much for intervention, this baby is going to hit 1.60. This is a HUUUUUGE psychological number. I'll be watching PA closely to short the living hell out of it.
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I guess someone's smiling today!

Nice call Bigpipn :cool:

And I think bugscoe was in there too somewhere, with his 'everyone and their Mother', nice one bugscoe :)
 
"GENEVA, Switzerland, Apr 22, 2008 (UPI via COMTEX) --

The weakening dollar has forced major European manufacturers to consider moving production to dollar-based economies, an industry coalition said. On Monday, the AeroSpace and Defense Industry Association warned of "massive relocation of aerospace production capabilities to U.S. dollar priced locations, where labor costs are approximately 30 to 40 percent lower than in the euro zone," The New York Times reported. As a sign of the shifting currency values, European Aeronautic, Defense and Space company Airbus is raising prices of the super jumbo A380 plane by $4 million, the Times reported. EADS also announced Tuesday it would purchase a California security systems company, PlantCMI for $350 million, in part to strengthen its presence in a dollar-based economy"

Nah, the strong Euro is having no effect at all!
 
Quote from Ivanovich:



Nah, the strong Euro is having no effect at all!
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lol, the ECB must be watching a different economy altogether!

German IFO and EZ manufacturing PMI both down, wait until some more trade numbers come out. Well now what? High inflation and slowing growth....hang on that's got a familiar ring to it, what other central bank has that problem :)
 
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