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Strategies & Market Trends : Classic TA Workplace

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To: Hayduke who wrote (77596)	7/18/2003 5:32:40 PM
From: Haim R. Branisteanu	Read Replies (1) of 209892

Yes I think so. Even that Europe would like a lower EUR, the recent noise about China's peg may reverse the EUR & Yen trend, as China may start to sell US financial assets By mid - day today there was a very powerful EUR/USD rally even that German Banks sold into the rally around 10 AM. They were able to drop the EUR/USD to below 1.1175 only to have the EUR/USD at 1.1305 early afternoon. To me that signals a possible trend change. From a fundamental point of view the USD is overvalued and many target it around 1.15 to 1.18. Unfortunate the brainless monkey's at the various banks are very jumpy. Keep in mind that there are plenty of "experts who anticipate the EUR to go below 1.10 soon

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