Quote:
Originally Posted by J. Abizeid  |
The speaker in the interview is following a Doomsday scenario based on throwing a lot of sh*t on the wall hoping that some of it will stick. If you predict a lot of things over a long period of time, some of your predictions have to come true.
The Euro is now at 1.318 and I see it hitting 1.30 very soon. As I mentioned many times before, this was the target with a few normal jitters along the way.
During the decline of the dollar since 2002, there were 4 major ranges. First, the 0.96-1.02 range, second the 1.14-1.20 range, third the 1.28-1.32 and fourth the 1.53-1.59 range. Between each of these ranges, it took a breather before going wild.
Now, it is the opposite direction which started with the first step 1.30-1.35. I expect it to take a breather for 2-3 months at this level. My feeling is that it should then reach another range level say 1.18/1.22 by June 2009.