KrunchieKilleen
Long

EUR/USD Longterm prospect is up

FX:EURUSD   Euro Fx/U.S. Dollar
467 11 9
The long term chart shows the EUR/USD             at the bottom of its natural zone, and rising from this bottom. Downward pressures are the prospect of a rise in American interest rates and commencement of Quantitative Tightening in the US, as against continuing ZIRP and QE             in Europe. A week ago it seemed that these pressures had stopped the resurgence, but China stepped in to force the Euro             to rise against the Yuan, which necessarily means rising against the Dollar. The balance has, perhaps, shifted back in favour of a rising EUR/USD             .
Interesting take. I'm sure that in the longterm, this will pan out this way, but I suspect we might see a sharp selloff for a month starting this week. If we don't then I'd start looking for longs.
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After looking at your chart, it seems like the EURO has no where to go but up.
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NomadTrader CryptoCurrency Inc.
a year ago
I wouldn't rule out down beyond that support. A lot of fear sitting on the last line of support. If it crosses, the 1/1 might be a marker for traders to hold onto. Even if it's the edge of a balloon of hype.
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The $1 EURO = $1 USD must have been some sort of hype the news are spreading.
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KrunchieKilleen CryptoCurrency Inc.
a year ago
My analysis would go wrong if the outflow of funds from the Euro zone continues..
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In my opinion, a good direction in the long term.
You see also interesting fibo
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TomaszTetnowski TomaszTetnowski
a year ago
snapshot
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VincentWhiting TomaszTetnowski
a year ago
Hi,
How did you get data on the Euro in 1984 ? it didn't exist then?
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KrunchieKilleen VincentWhiting
a year ago
That is a very good question! I, of course, found the Chart on TradingView.com. Presumably, up to 1999 the chart uses the ECU, launched in 1979, which the Euro replaced at a ratio of 1:1.
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TomaszTetnowski VincentWhiting
a year ago
I found a quotation here
https://www.tradingview.com/chart/ssrCrmw1/
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KrunchieKilleen TomaszTetnowski
a year ago
This seems to clinch the argument!
+1 Reply
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