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Strategies & Market Trends : The coming US dollar crisis
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To: maceng2 who wrote (22453)8/30/2009 5:54:36 PM
From: RockyBalboa  Read Replies (1) of 71454
 
Seen from a EUR standpoint, the GBP failed to rallye meaningfully past 85p so profit taking brought the cross back to retracement levels. That alone is no reason to be further bearish; traders ended the trade at 88.2p (and Y151.5) where it reversed. Of course many traders say, the stuff traded at nearly 1 to the EUR and 1.35 to the dollar so the current levels are too much of a recovery thats what they try these days.

I think, robert prechter had a similar idea, recently stating that the US dollar is nearly at a bottom and other currencies driven by at least the same amount of QE will correct.
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