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Dollar On Verge Of Break Out; Goldman On Verge Of Being Stopped Out (Of Long EURUSD Reco)
The DXY is ripping, and is about to break out of recent resistance levels. News out of Europe that no bailout of Greece is to be expected, further compounded by some serious doom and gloom out of Evans-Pritchard about the EMU and the euro in general, means that the euro will soon make a date with the one point two-handle. This is certainly not good for Goldman clients who just one week ago bought into Goldman's pitch of going long the EURUSD, with a 1.35 stop. Looks like that stop is about to be breached.
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Hopefully, the great unwind begins this week......
why do you keep quoting goldman? they lie. we know they lie. it's all covered in their disclamers.
Someone's got to do it.
Dollars are the way to go now. Target: 89 (or higher!)
God damn I hope your right. I was hoping for a max of 84 on any dollar rally. Would be estatic to see it hit 89!
I posted this over a month ago...
by zarrmaxon Fri, 02/19/2010 - 10:26
#237435
For those that are interested,
Go longer and you'll see the bigger patern. '01-'10 chart shows a double bottom with a $108.00 prediction which sounds crazy until you look at a fib retracement. $108.50 is the 76.4% retracement of the 2001high-2008low.
For those interested here's the long term fib resistance levels for the DXY:
23.6%- 83.058
38.2%- 90.099
50% - 95.789
61.8%- 101.479
I don't think DXY will retrace all these levels but I do believe if you cancel out the every day noise, 83.058 and then 90.099 is realistic.
GOLD BITCHES!!
Buy on the dips.
I am Chumbawamba.
Dollar: K line on MACD has turned up, and support has held while overbought conditions have been alleviated.
Gold: made bearish divergence on the MACD between the last peak and the 1220 peak, and recently broke out of a rising wedge to the downside, although, some might see the break of the rising wedge as a falling wedge, which could be bullish.
Gold's recent action has formed a potential H&S pattern, and last week's candle is a shooting star. Support is critical for gold on Monday.
You can thank me for the TA tips later!
Look at the volume on UUP the past 4 months. At least in the intermediate term I'd have to say:
DOLLAR BITCHES!
chumbawamba: GOLD BITCHES!!
simonyadig: DOLLAR BITCHES!
The fourth rule is... you two have to fight.
I think their both righ: Simonyadig short-med term; Chumba med-long term.
That is interesting. Thanks.
Why not 1.00 or .80? How do you discount the unit of value of a disintegrating monetary union? This is a serious question. What portion of the euro's worth is attributable to Germany or France? Who will make these decisions? How will they be ratified?
What an extraordinary mess this is going to be.
Euro Gold Bitches....... 1000 Euros a ounce by Christmas
The Dollar could become the new 1970s Deutschmark !
But only GS clients with foreskins were sent the report, so all is good.
Move along, nothing to see here.
You mean Gentiles
"Only GS clients with foreskins were sent the report..."
Hilarious. Lloyd approved this message...
Best start to a week I've had in ages. Brilliant humor.
Hurry up and monetize them dollars you have pretty quick in the next few years before this modern day tulip mania is exposed.
http://funy1.blogspot.com/2010/03/finite-irrationality-of-paper-wealth.html
Short Ultrashort 20+ Treasuries, long gold, short GDX, short equities and high yield, long biotech/pharma. Pass the sugar.
Anyone want to start an over/under on the demise of the Euro?
anyone got any low-leveraged tips to get currency exposure..??
everytime i look at those tradeable currency pairs the leveraged scares the bejeezuz out of me.
Yeah, Open a Mini Account instead of a standard account. If you can't handle mini than you can't and should't be trading forex.
Thanks weelp, just checked out minis, much better!!
How much do ya wanna bet that the media pins the strengthening dollar to the passage of the healthcare bill?
As soon as the White House says it . . . .
If the EU does allow Greece to go it alone into some kind of default a case can be made that this could strenghten the Euro. By showing some resolve and by turning away in a very public way from bailouts some might look at it as a positive step. Just saying in a devils adovcate way.
what? do they kick out Spain ,Portugal,Italy, Ireland and the UK (even though UK is not a part of monetary Union they are required to have the 3% gdp deficit was recently ruled) .?
IMO either way this plays out -the EU is screwed - Bailout Greece = bailout everybody
Kick out Greece = kick out everybody (PIIGS) with the same problems down the road .
The Devil is everywhere he is straddling this bitch .
Whoa. Don't kick out everybody. Pick the winners as was done with the banks.
Stopped out by 2 pips, complete fail.
WS mafia gangbangers GS now needs to find another batch of suckers once 1.35 stops get triggered. LOLL.
Goldman was one of the Key players to set up ICE.
and the fleecing the DX herd continues. Uncle Sam also has no clothes... in fact, he may as well be Greek.
Can't help but wonder if the folks doing God's work were betting against it while pumping it --- again.
As I have been asserting for weeks (months?), the health care bill is a tax increase designed to support the Treasury market. No one, absolutely no one, should be surprised by this USD strength. We seem to be retracing the steps of the demise of Sterling.
http://www.bbc.co.uk/archive/nhs/
On 5 July 1948, the National Health Service was launched with the proud expectation that it would make the UK the 'envy of the world'.
It should be apparent now to all that slow starvation is the Fed's plan for crushing the resistance of the middle class. At this time I will limit myself to wondering alound about whether UK's implementation of NHS was a means to slow the collapse of Sterling. I will continue to point to GB as America's future ten years hence: everything nationalized, people disarmed and powerless, surveillance state fully implemented. People in the UK exist to pay taxes. Period.
Called the dollar rally back at 74. It's gonna keep going up. We are in a deflationary spiral.
The EURO downtrend I predicted continues and USD uptrend continues.
Equity markets can't ignore this for long.
The USD weekly chart remains bullish and I still expect a good dollar rally this year.
http://www.zerohedge.com/forum/latest-market-outlook-0
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