Thursday 14 July 2011

EURUSD










See previous link:
regarding long term reaction and Median lines...
as they say in the crown court "i rest my case your honour"
The euro looks exceptionally weak to me and I think we will soon pass lower from the current trading range above 1.4000 to the 1.39's and prices such a todays 1.4180 will be distant memories...so where to get short? A break above 1.4275 would however make me change my mind short term but the feeling in Euro-land ( this blog's author lives in France) is pessimistic amongst the Paris financial community in 'La Defense' (the Wall St of Paris) and the fiscal rot taints many more countries than just the P.I.G.S ( Portugal,Ireland,Greece,Spain). So the future? A two tier euro with Germany and perhaps France at the top? What would you do to sort out this problem in countries such as Greece where taxes are generally (and culturally) not paid? (a friend is a Doctor/hospital surgeon in Athens and tells us that most of his colleagues usually have a friend in the tax office who for an annual 'brown envelope' will reduce the income tax you owe to a nominal sum).

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