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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: elmatador who wrote (50901)6/12/2004 8:32:25 AM
From: macavity  Respond to of 74559
 
I am close to switching my Long EURO allegiances.

I fortuneatly went long earlier and shorted gold as a hedge at 390 and 395, but have averaged up on my long EURO on this decline. Not good!

For the dollar (vs. euro, gold, swiss etc) we are now at short-term overbought in an intermediate beartrend.
If we do not reverse soon then the dollar rally could be on for real (longterm) target $USD=99/100.

euro:
stockcharts.com[w,a]daclyyay[dd][pc21!c55][vc60][iLe8,21,13!Lp55,13,13]&pref=G

gold
stockcharts.com[w,a]daclyyay[dd][pc21!c55][vc60][iLe8,21,13!Lp55,13,13]&pref=G

dollar
stockcharts.com[w,a]daclyyay[dd][pc21!c55][vc60][iLe8,21,13!Lp55,13,13]&pref=G

the short dollar is a crowded position

-macavity



To: elmatador who wrote (50901)6/12/2004 1:53:23 PM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 74559
 
sorry but did not sort out your logic - IMHO the UDX rose because of unwinding of carry trades which are scared of a higher than 0.25% interest rates hike on June 30.

In the short term - carry trades which trigger stop losses have much stronger influence on the USD than economic news.

Slowly EZ is looking better than the US - EZ factory orders rising in US falling