Quote:
Originally Posted by J. Abizeid  [
It would be interesting to see the trend charts from Admiral reversing the course during the next few months.
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Quote:
Originally Posted by admiral
) if the EURO is able to break again the 1.40 -1.415 level it will continue its uptrend and reach to its previous high of 1.47 .
Now the real test for the strength of the euro is to be able to push above 1.48 -1.50 level ,
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I posted the above few month ago , that once the 1.40-1.415 level is breached the euro will cruise to 1.47 , this is exactly what happened in past few days .(trading is not a rocket science , it just needs :concentration ,experience ,decision taking ability, emotion control and iron nerves )
now for the future , there is no doubt the euro is in a very strong up trend , however there is a very strong barrier lying ahead which is the psychological 1.50 level , many traders who are holding long euro positions will look very indecisive at this level since the greed /fear factor will take over their emotion , and they might push the sell trigger in case this level is not broken to the above , so i expect a lot of volatility in this area .
However if we are able to move above 1.50 -1.515 and sustain that up move for a couple of days surely the previous all time high of 1.60 will not be far away .
only a move below 1.38 will change the positive perspective of the euro to negative