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Originally Posted by Abou-Eddie  It is 1.27876 now. Totally incredible. It seems I was wrong yesterday and the slope is even steeper and as admiral said, there is no breather at the 1.30 level. Wow, we could reach 1.22/1.25 sooner than expected. I used to say in the next 2-3 months, now I say maybe tomorrow |
let us first wait and see if the USD will be able to establish a strong foot under the 1.30 level , since when it hit 1.27 , it bounced immediately 200 points to 1.29 , which mean a lot of buyers of Euro emerged at this level .
If by the end of this week the Euro stays below 1.30 , it means there is a big probability it will be heading lower again , however if it manage to close by the end of the week above 1.30-1.3050 level , it means there is some positive sign for the euro in the horizon.