You gotta love the headline, and I can see it now…..
Every “kool-aid drinkin Fed head” on the planet convinced The U.S Dollar is “on the rise” due to strong U.S economic data – biting my head off here in days to come.
How dare you suggest The U.S Dollar is going down hard! How dare you Kong! How dare you!
I’m actually amazed that The Fed and U.S Gov have allowed the thing ( USD ) to get this far out of the basement as it is so……..yes I’m saying it – I think a whole lot of USD bulls are about to get taken down the river.
The boat looks about as loaded as need be.
Let’s tip this thing.
Look $USD is behaving oddly.
I suggest you do what I did and just leave it alone for a while.
I mean just don’t trade $USD pairs for awhile.
Good advice / wise move although….I expect movement like…..tomorrow.
But longer term, are you saying EUR/USD more likely to be 1.40 or 1.20? I’m in the 1.20 camp but will go long 1.2750ish if it gets that low before 1.32.
Near term we’ve got to see a reasonable bounce in EUR considering the USD weakness.
Medium term back into the range between 129.00 and 1.40 yes.
Long term……we will likely see some kind of “currency crisis” with both these “duds” suffering so it’s tough to pit one against the other and imagine which will come out on top.
USD strength past these levels seems very unlikely to me, but headlines such as “Germany leaving The EU”
would obviously change things..
Or perhaps “U.S Congress actually C.I.A” / offshore bank accounts seized in Switzerland on that side of the water.
Who can say for certain.