[J. Abizeid]

Originally Posted by Abou-Eddie

The problem with your argument is that it assumes that things are going very bad in the US while things are rosy in Europe. This is definitely not the case.

Please don’t take it personal but in view of today’s realities, would you reconsider?

Below is my quote from just a week ago when I sounded so unrealistic.
Based on the facts on the ground I doubt the euro will ever go down to $1.38 again but it’s a matter of a few months before it beats its own record again.

And yes, timing of the US elections has everything to do with it.
Just a few days ago, oil surged up to $130 which proves there is no upper limit for oil prices. They drive it up when they need the money. They keep it down when they need your vote.

Oil went below $100 on Friday but the euro went up to close at $1.4212 which means lower oil prices below the $100 mark started hurting the dollar instead of helping it partly because of decrease on dollar demand to buy oil.
It’s an interesting observation. When oil moves down from a record high the dollar moves up to a certain point beyond which it starts reversing course in a parabolic shape.
With all the manipulations the euro hit its bottom in the $1.38 area which means it will be building up on that base from now on.