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Strategies & Market Trends : The coming US dollar crisis
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To: ggersh who wrote (16214)1/11/2009 7:55:16 PM
From: RockyBalboa  Read Replies (2) of 71454
 
Asian traders are testing my nerves again... the EUR fell below the US close but I´m testing waters here at EUR long 1.3400.

Also the EUR/GBP trade tries to find a bottom, as nothing goes down without a fight. That and the possible resolution of the natgas crisis make a bounce trade in EUR possible.

The pervert thing is that the natgas shutoff could be used as a lever to prop oil, as industries and power plants desperately switch to heating oil from gas to keep up production.

Chart-wise there could be another dip if the congestion turns into a protracted decline and it retests 1.31-1.3000

So the interesting thing is that either the EUR rises (on gas resolution) or oil rises. We will see. Oil at a critical junction at 40 flat.

But all told the scenario is too familiar: Yen strong, Austral weak, stocks weak...most commodities no real buying (except ags).
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