[J. Abizeid]

Originally Posted by admiral

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

Thank you admiral,
I like your charts. They certainly make sense but only for short term investors.
I think smart long term investors know real well buying dollars for short term gain is risky business. I always felt the safest way is to secure at least 50% of your investment in something other than dollar including gold and, day trade the rest or save it in a high yield interest bearing LL savings account.
I still believe the LL is safer than the dollar. The reason is, not only you get higher interest return on it but the central bank, soon will become under pressure to boost its value possibly to 1.300LL to the dollar in order to compensate for the inflation in Lebanon caused by the melting dollar; the gas prices for an example. http://finance.yahoo.com/news/Oil-re...7&asset=&ccode=
Once again, the fundamentals of the US economy have not change and its present administration is more honest than the previous one. They no longer trying to fake it and the next G20 summit will show just that.